No one knows for sure. A popular view is: 1) the drop starts because the fed starts to withdraw liquidity... 2) the market will trade sideways while the fed u

No one knows for sure. A popular view is: 1) the drop starts because the fed starts to withdraw liquidity... 2) the market will trade sideways while the fed unwinds its balance sheet... 3) Once the market drops sufficiently far (30%+), or a recession is induced, the fed will blink and inject liquidity again ... 4) Causing the next wave of growth.