© Reuters. FILE PHOTO: A view of the exterior of the Nasdaq market site in the Manhattan borough of New York City
NEW YORK (Reuters) – 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.
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