Worst Reversal Since 2015 Leaves S&P 500 at Correction's Door
- The benchmark is on the brink of its second 10% fall of 2018
- Signs of selling by hedge funds as valuations don’t hold up
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Stability in share prices again proved fleeting as U.S. stocks staged their sharpest reversal in three years, leaving the S&P 500 at the precipice of its second 10 percent correction of 2018.
While traders said tariff threats were behind Monday’s drop, the benchmark has now fallen in eight of the last nine days in some of the steadiest selling since 2016. Stocks spent most of the last hour in correction territory before jumping above the threshold at the close.