Volatility shock wave has wiped $5.2 trillion from global markets, sent five sectors into correction territory

Thursday’s late market downturn added to extreme volatility in equities, extending to a global loss of more than $5 trillion and an official correction for nearly half of the S&P 500’s sectors.

S&P Dow Jones Indices senior index analyst Howard Silverblatt summed up the winter chill in the market Thursday evening, after the S&P 500 index SPX, -3.75% officially entered correction territory. In the past two weeks — since the close on Jan. 26 — the S&P 500 alone has lost $2.49 trillion, and global markets $5.2 trillion, he wrote.

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