The S&P 500 index flirted with a full-blown market correction Thursday, a move that would mark its fastest such slide since the financial crisis.
The S&P 500
was off around 64 points, or 2%, near 3,053 after trading as low as 3.006.96. A close below 3,047.54 would mark a decline of more than 10% from the benchmark large-cap index’s all-time high, meeting a widely used definition of a correction.
The S&P 500 posted a record close of 3,386.15 on Feb. 19. If a correction is confirmed at the closing bell, the index’s six-day drop would mark its fastest slide into correction territory since a two-day drop on Nov. 5-6 2008, during the depth of the global financial crisis, according to Dow Jones Market Data.
The Dow Jones Industrial Average
tumbled more than 800 points at its session low and remained off around 555 points, or 2.1%, at 26,403. A close below 26,596.28 would mark a more-than-10% drop from the blue-chip gauge’s all-time closing high.
The Nasdaq Composite
was also changing hands below the correction threshold. The tech-heavy index was down around 217 points, or 2.4%, near 8,763. A close below 8,835.46 would push it into correction mode.
