The S&P 500 is now more than 10 percent below its last record high — a line in the sand for investors worried about a sell-off gathering steam.

On Thursday, the S&P 500 fell 1.4%. After weeks of selling, the index is now down 10.1% from a peak that was reached less than one month ago and is in a correction.

A 10% drop is a big enough deal that professional investors have a name for it — a “correction” — and the S&P 500’s 1.4% slide on Thursday sent the index to its first si

The losses followed Trump's threat to impose hefty tariffs on European wines and alcohol, further escalating trade tensions.

US stocks slid Thursday and the S&P 500 entered a correction, down 10% from its record high in February, as President Donald Trump threatened new tariffs on the European Union.