The S&P 500 fell 87 points, or 4.7%, to 1,878 on Monday and is now trading more than 10% below its May 21 all-time high, meeting a widely-used definition of a correction. This is the first such correction since August 2011, when the index lost 19%. The Nasdaq Composite fell 405 points, or 8.5%, to 4,310, trading more than 10% below its all-time high reached on July 20. On Friday, the Russell 2000 index of small-cap stocks as well as Dow Jones Industrial Average both fell into correction territory.
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