US Stock Market Falls 20% in One Month... Enters Correction Phase

[Asia Economy New York=Correspondent Baek Jong-min] The U.S. New York stock market has entered a full-fledged correction phase, falling 20% from its peak.

According to Bloomberg News as of 3:20 PM local time on the 11th, the S&P 500 index was down 5.81% (167.41 points) at 2714.82.

This is about 20% lower compared to the peak of 3386.15 points recorded on February 19. In the stock market, a 20% drop from the peak is considered the start of a correction phase.

The S&P 500 has been falling sharply since the World Health Organization (WHO) declared the novel coronavirus infection (COVID-19) a global pandemic.

The Dow Jones Industrial Average also dropped 6.56% (1641.98 points) from the previous day to 23,376.18. The Dow index has officially entered a correction phase, falling 20% from its February peak.

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