Stock Prices Corrected 11.8% Before Rallying Sharply Friday

From its all-time closing high two weeks earlier, investors on Friday had corrected their valuation of stocks in the Standard & Poor's 500 index by 11.8% before rallying about 3% and closing at 2619.55.

From the all-time closing high of 2872.87 on Friday, Jan. 26 to Friday's low at 1:39 p.m. EST of 2532, stocks had more than met the definition of a "correction" and the plunge entered financial history books.

It's understandable that investors have revalued stocks. Upward revisions recently made to an already extraordinary earnings growth made some investors giddy.

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This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

Indices are unmanaged and not available for direct investment. Investments with higher return potential carry greater risk for loss. Past performance is not an indicator of your future results.

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