The S&P 500 Industrial Index is poised to enter a correction as investors worry that conflict involving Iran could hinder economic growth and keep interest rates elevated.
The index fell 1.8% on Friday, marking a cumulative decline of 10% from its peak on March 2.
If the downward trend continues through the market close, the index would meet the technical definition of a correction, which is a 10% drop from a recent high.
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