US stocks continued their wild week and are now in a correction.
Corrections are usually defined as a 10% decline from a recent or all-time high, while a bear market is a more sustained and deeper drop of 20%.
The benchmark S&P 500 closed at 2,581.08, about 10.2% below its closing high of 2,872.87 on January 26.
Similarly, the Dow Jones industrial average closed at 23,860.46, down about 10.4% from its high of 26,616.71, also on January 26.
The last time the S&P 500 entered a correction was early 2016, and that came on the heels of another selloff in August of 2015.
The chart below, from Yardeni Research, shows corrections and bear markets since 2009.
Yardeni ResearchCorrections and Bear Markets
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