The Nasdaq Composite Index closed down 1.15% on Wednesday, January 19. That marked the first close for the index in correction territory since March. (The common definition of a correction is a drop of 10% or more.) The technology-heavy index is down 8.3% so far in 2022 closing t 14,340.25 on Wednesday. That’s 10.69% below the November 19 record high.
The NASDAQ Composite closed the day down 2.11% on March 4. That was a third straight day of losses including the 2.7% drop on Wednesday. At its low for the day–12,555.1 at 1:59 p.m.–the index briefly dipped into correction territory with a 10.92% loss from the February 12 high of 14,095.47. A slight improvement at the end of the day to 12,723.47 left the index down 9.93% from the February high, right at the brink of correction territory. The drop to the close at 12723.47 erased all of the indexes gains for 2021 to date.
