Conventional Wisdom "Correction" means minimum 10% down. Market is less than 1% from ATH. Top tic it baby! You can be THAT guy! Has noone learned ANYTHING over the last 10-12 years?
SPX couldn't even fill a gap from last week during this morning's micro plunge. So no, correction has not begun.
Just stating the obvious that the current down move is/was especially corona virus related. I think the current expectation and most probable outcome is that the US will not be badly affected. To be fair, it could get a bit worse a while longer as spread is still not entirely controlled.
%% SDOW is till going up; so yes, correcting on the on the DOW, but it never was much of the benchmark LOL Even though WSJ thinks it is,some sort of benchmark; helps sell papers, maybe ...........................................................................................
You should seek a job in the financial media. They love explaining price movement with news or in spite of news.