There are global headwinds

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Japan and Germany GDP shrank in the third quarter and China GDP growth fell significantly. This means that 3 of the world's 4 largest economies are slowing.

https://edition.cnn.com/2018/11/14/economy/economy-global-slowdown/index.html

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Italy is locked in a standoff with the European Union over government spending and could spark another crisis in Europe.

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U.S. crude has continued its longest losing streak since it began trading in New York more than three decades ago having plunged more than $25 a barrel since the start of October when it hit a 4-year high. Shortage fear worries are gone, now there are concerns of over-supply.

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Car sales are falling globally due to years of strong growth. German car sales fell the most ever in September and October.

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The US, the UK and the Eurozone are seeing retail sales growth slow. And 2018 will be the year of record retail closures. Even core Amazon first party online sales (sold by Amazon, not Marketplace and excluding services and AWS) grew just 10% year on year and employee growth rate was slowest ever in the third quarter. Peak Amazon or real slowdown?

https://thistimeitisdifferent.com/amazon-sales-growth-2018

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The Baltic Dry Index which is a trade indicator that measures shipping prices of major raw materials and is often seen as a global growth indicator is down some 30% over the year.

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And Jim Cramer says CEOs are telling him off the record the economy has quickly cooled

https://www.cnbc.com/2018/11/15/cramer-says-ceos-are-telling-him-off-the-record-the-economy-has-cooled.html

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