It’s official: Nasdaq in a correction, with 10% fall from Feb record close


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NEW YORK — The Nasdaq’s retreat from its

all-time highs last month is now officially considered a

correction in a bull market.

The tech-heavy index on Monday closed down 2.22% unofficially

at 12,633.61, roughly 10.6% below the Feb. 12 record close at

14,095.47 and exceeding the 10% closing-basis threshold

considered by market professionals as confirmation of a

correction. The Nasdaq entered the latest bull market in

September, rising more than 30% to its peak.