A 10% drop for stocks is scary, but it’s not that rare

By STAN CHOE
AP Business Writer

NEW YORK (AP) — The worries rocking Wall Street about interest rates, inflation and now Ukraine have sent the S&P 500 tumbling by 10% from its recent high. It’s an arbitrary number, but it’s big enough that Wall Street has a name for such a decline: a “correction.” Such drops have been regular occurrences through history, and some investors see them as potentially healthy things that can clear out excessive and dangerous risk-taking. But they’re frightening in the moment, particularly for a new generation of investors who got in the market when it seemed like stocks only go up.