If you haven't seen enough red this week, take a look at the table of recent key ETF performance below. It wasn't long ago that this entire screen was green. Markets don't stay overbought forever, and they don't stay oversold forever either.
US market related ETFs are generally down 5% to 10% over the last week, while foreign market ETFs are down 10%-15%. Of the foreign ETFs highlighted, Russia (RSX) is down the most over the last week at -15.48%. Italy (EWI), France (EWQ), Brazil (EWZ), and Australia (EWA) are others that have gotten hit extremely hard.
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