It is good to look at the world markets regularly. For someone investing in the U.S. it may be obvious that we are in the long bull market in equities. But it is not the case when looking at other markets.
Please, look at the chart below:
The first chart (upper window) evidences the price action of emerging markets. Well, these markets have done practically nothing since 2010.
S&P 500 and the majority of other U.S. indices are in their up trends (with some exceptions as Russell 2000 and NYSE, which are currently in trading ranges).
The old, good Europe has been in a trading range since 2014.
And the world (without the U.S. market) - it seems that now the world is in a correction mode or maybe it is starting something more serious (going south).
Summarizing - apart from the U.S., most world equities are not in their up trends. What is more - it is not anything new.