The Dow Is Nearing Correction. The S&P 500 Isn't Far Off, Either.

The Dow's big drop on Friday put the blue-chip index back on correction watch. If it closes at 45,255, it would mark a 10% drop from its Feb. 10 closing high and join the Nasdaq Composite in correction territory, according to Dow Jones Market Data. The level to watch for an S&P 500 correction is 6280.74.