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The world’s most widely followed #StockMarket benchmark slid into a correction on Thurs, a drop that underscores how the 2-yr-long bull market [#Bidenomics] is running out of steam in the early days of the #Trump admin.
The move stems from investors’ growing pessimism about the whipsawing policy pronouncements from Trump over the past few weeks. On-again, off-again #tariffs & #MassLayoffs of #FederalWorkers have fomented unease on #WallStreet.
#economy #Trumpcession
https://www.nytimes.com/2025/03/13/business/sp-500-stocks-market-correction.html?smid=nytcore-ios-share&referringSource=articleShare&sgrp=p&pvid=2AF81A08-DB10-4E54-BA71-32F938B4D01C
On Thurs, the S&P 500 fell 1.4%. After weeks of selling, the index is now down 10.1% from a peak that was reached less than 1 month ago & is in a correction — a Wall Street term for when an index falls 10% or more from its peak, & a line in the sand for investors worried about a sell-off gathering steam.
Other major indexes, including the Russell 2000 & the tech-heavy Nasdaq Composite, had already fallen into correction before Thurs.
@Nonilex I know you’re not in charge of such things, but I don’t think they should call it a correction. A correction suggests the market was irrationally exhuberant, and it came back down to earth. There should be a different term for when the decline is due to a healthy economy being driven into a ditch, and the market is responding to changing circumstances.
I believe the technical term is dumpster fire via pyromaniac.