By The economic chaos unleashed by President Donald Trump has pushed the S&P 500 into a correction.
The broad index of U.S. stocks fell 1.4% Thursday, making its decline since its February all-time high greater than 10%. It has now fully erased all its post-November election gains and is back to levels last seen in September.
Among the companies seeing the biggest declines over the past month are Tesla, down 27%; Walmart, 18%; and Amazon, 17%.
Corrections have historically occurred about every 10 to 15 months on average. But it had been an unusually long time since U.S. stocks had experienced one — nearly three years.
It is not yet clear how serious this correction will be. Only about 1 in 4 correction events have ended up turning into bear markets, when a 20% decline from recent highs occurs. Bear markets historically take much longer to recover from, since they often accompany broader downturns in the U.S. economy.
