A correction indicates a fairly serious stock market sell-off of 10% or more from a recent high.
This is the first 10% tumble for the benchmark U.S. stock index since stocks plunged nearly 34% in the early days of the pandemic.Don't freak.
On average, the market typically has one correction a year, according to Ned Davis Research.The markets will be sensitive to signs that a worsening sell-off could make the Federal Reserve think twice about its rate hike plans when it meets next month.
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