The markets are correcting. A correction was due. These are common phrases today. But what is a correction? If the market falls 2% in a day, is that a correction? What if it falls 5% in 10 days? Simply speaking, when asset prices, of say equity or real estate, start to fall after rising over a period of time, it is termed a correction. In case of stock markets, prices of shares are quoted everyday, which means there is a daily change in value. On a daily basis, there could be a fall or a rise. But, a single-day negative change in price is not a correction. An index similarly, which is nothing but a basket of shares, undergoes daily change in value. This is daily volatility rather than a correction. Technically speaking, a correction is defined as a 10% fall in price of an index or a stock from its 52-week high.
75 years to reach per capita income of $2730, will take only 5 years to add another $2000, FM Sitharaman
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