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

SPX, -2.22%

 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

DJIA, -2.31%

 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

COMP, -2.52%

  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.

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2020-02-27