Industrial Giants Enter Correction in Warning Sign for Stocks

Major US industrial and transportation stocks fell into a correction, in a bad sign for the broader stock market as concern mounts about the economic impact of the continuing war in the Middle East.

The S&P 500 Industrials Index fell 1.3% on Friday, bringing its decline from a March 2 record close to nearly 11%. A technical correction is defined as a drop of 10% or more from a recent peak. The index briefly entered correction territory earlier this month but did not close there.