The S&P 500 entered a correction on Thursday as stocks continued to sell off amid growth concerns.

The 澳洲幸运5官方开奖结果体彩网:S&P 500 fell 1.4% t🐬o close at 5,521.51 on Thursday, putting it 10.1% off its recent allꦛ-time high.

Some market watchers have been warning of a 澳洲幸运5官方开奖结果体彩网:correction for a while. It has been 343 trading days since the S&P 500’s last 10% pullback, nearly twice the average time between corrections (173 days) since 1929. 

Since 1928, the stock market has corrected 1.1 times a year on average, according to research from Ned Davis Research and LPL Financial. Severe corrections of 15% or more have occurred once every two years, and bear markets have hit once every three years, approximately. 

How the Current Sell-Off Compares

The market’s last correction was a slow burn. The S&P 500 slid 10.3% between July 31 and October 27, 2023, as the Federal Reserve signaled it would nee♊d to keep interest rates higher for long😼er to return inflation to its 2% target. That correction was a long time coming, but it was short-lived. Stocks rebounded out of the correction on the next trading day, October 30, and have been trending higher ever since. 

Stock market corrections tend to end more quickly than they come on. Since World War II, the average S&P 500 correction has taken five months to bottom and about four months to recover, according to Covenant Wealth Advisors. The average drawdown has been about 14%. 

The current downturn has been swift in comparison. The S&P 500 closed at a record just three weeks ago, on 澳洲幸运5官方开奖结果体彩网:February 19, as promising earnings reports offset creeping tariff uncertainty. Stocks have fallen precipitously since then as Trump has threatened, imposed, and delayed a♊ slew of tariffs ܫthat some economists say could raise consumer prices and slow economic growth. 

Update—March 13, 2025: This story has been updated to reflect the market close.