Major U.S. stock indexes were poised to enter a full-blown market correction Thursday if they maintain early losses until the closing bell.
The Dow Jones Industrial Average DJIA, -2.46% tumbled more than 600 points and was off 610 points, or 2.3%, near 26,348. A close below 26,596.28 for the blue-chip gauge would meet the widely used definition of a market correction by marking a more-than-10% drop from its record close.
The S&P 500 SPX, -2.48% was also trading in correction territory, slumping around 73 points, or 2.4%, to 3,043, after trading as low as 3,034.18. A close below 3,047.54 would push the benchmark large-cap index into a correction, according to Dow Jones Market Data.
The Nasdaq Composite COMP, -2.85% was also changing hands below the correction threshold. The tech-heavy index was down around 240 points, or 2.7%, near 8,741. A close below 8,835.46 would push it into correction mode.
