, Columnist
Call That a Correction? Tesla Tests the Lexicon
The stock has hardly shed all its excess, and there's little sign that a broader swath of investors have decided the market is overvalued.
He’s still up 16% in four weeks.
Photographer: FREDERIC J. BROWN/AFP/Getty Images
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One of the least useful definitions in the market lexicon is the notion that a correction is any peak-to-trough fall of 10% or more. The notion that a bear market is any decline of 20% or more is possibly even less useful, but after the last few days we urgently need to look at what we really mean by the word “correction.”