The S&P 500 on Tuesday fell into a correction for the first time in two years, joining the Nasdaq Composite, as Russia sent troops into pro-Russian regions in Ukraine.
The S&P 500 index
SPX,
ended down 1% at 4,304.76, below the correction level at 4,316.91, which would represent a 10% drop from its Jan. 3 record close. A correction is commonly defined by market technicians as a fall of at least 10% (but not greater than 20%) from a recent peak.
The last time the S&P 500 entered a correction was Feb. 27, 2020, when the market was being whipsawed by fears about the outbreak of the COVID pandemic.
This time around, investors were wrestling with escalating tensions between Moscow and Kyiv, which could devolve into a full-blown war. Wall Street also was wrangling with a surge in inflation and a Federal Reserve that is…
