A 10% drop is a big enough deal that professional investors have a name for it — a “correction” — and the S&P 500’s 1.4% slide on Thursday sent the index to its first si

A 10% drop is a big enough deal that professional investors have a name for it — a “correction” — and the S&P 500’s slide on Thursday sent the index to its first since 2023.

In the bond market, Treasury yields lost an early gain to sink lower. The yield on the 10-year Treasury fell to 4.26% from 4.32%. The yield has been mostly dropping since January, when it was approaching 4.80%, as traders and economists have ratcheted back their expectations for U.S. economic growth.