On Friday, the Dow suffered its worst one-day percentage decline since November 2011. The index plunged by nearly 2%. The S&P 500 didn’t fare much better. It plunged by 2.1% – its biggest one-day percentage drop since June 2012. So far in 2014, the S&P 500 has lost 3.1%. And the Dow is down 4.2%. Mainstream pundits say the big fall in US stocks had to do with China. Or with the Fed’s tapering of QE. Or with bad labor reports… a slowdown in capital spending… or the drop in foreign trade. Take your pick.