NEW YORK (CNN/MONEY) - It's not unusual for the stock market to pull back a year or so into a major bull market. Such "corrections" -- which typically last for a few months and cause a double-digit decline in the Dow -- normally are followed by a resumption of the bull market, which then goes on for another couple of years.

The current correction, which began in February and has so far knocked almost 10 percent off the Dow, could easily be dismissed were it not for all the problems in Iraq. Many investors seem to fear a debacle that would send the stock market into a much more serious and longer lasting tailspin.

So, is this recent selloff a correction that has nearly run its course or the beginning of a bear market?

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