The standard definition of a correction is a 10-20% market decline. “Minor” corrections aren’t defined, though one could imagine an event that barely meets the threshold making sense.
But yes, strictly you are right - this isn’t a correction at all.
> the Nasdaq Composite confirmed it was in correction territory after a soft jobs report stoked fears of an oncoming recession
My point was that it was explicitly a correction and officially confirmed as such for some indices, and that the label of “minor” is more of an opinion or spin.
> the Nasdaq Composite confirmed it was in correction territory after a soft jobs report stoked fears of an oncoming recession
My point was that it was explicitly a correction and officially confirmed as such for some indices, and that the label of “minor” is more of an opinion or spin.