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

Published 08/03/2021, 22:08
Updated 09/03/2021, 02:30
© Reuters.

(Corrects start date and percent gain of bull market in
paragraph 2)
NEW YORK, March 8 (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 last March
and rose more than 105% from the pandemic low a year ago.

 

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