Equity bears are on the prowl all over the globe. Well, swooning international equities, especially the vulnerable emerging markets and persistently weak developed economies may well explain why bears are flexing muscles beyond the border. But the otherwise steadier u.s. economy has also not been spared.

If we go by the recent comments from billionaire activist investor Carl Icahn and Goldman Sachs' latest cut in the S&P 500's year-end price target, we will hardly see any bull raging in the fourth quarter, which includes the all-important holiday season or the biggest selling-period of the year.

All these are not shocking or sudden though! Investors started getting cues from the latest Fed meeting when officials pushed themselves back from crossing the line of monetary policy easing, citing global growth worries and subdued inflation. The concerns were mainly initiated by hard landing fears in China, return of deflationary threats in Euro zone, slouching emerging economies and a never-ending slump in the commodity market.
 

Icahn's Concerns