rewrite this title Most of the S&P 500 is already in correction territory as benchmark teeters near milestone

The majority of the stocks in the S&P 500 are already in correction territory as the sell-off on Wall Street continues to drag the benchmark closer to that key threshold.

As of Monday’s close, 366 S&P 500 components, or 73%, were trading 10% or more below their respective 52-week highs, which means they have already suffered a correction. A total of 203 components closed more than 20% below 52-week highs as of Monday, meaning they are in bear market territory.

The S&P 500 is in the red again Tuesday, sitting about 9% below its 52-week high reached on Feb. 19. The market decline accelerated over the past week as President Donald Trump’s aggressive tariffs stoke fears of slowing economic growth and even a recession.

Five out of 11 S&P 500 sectors are in correction territory: consumer discretionary, tech, communication services, materials and energy.

The biggest laggards in the S&P 500 include drugmaker Moderna and the highly volatile artificial intelligence play Super Micro Computer, which have fallen 79% and 69% from their record highs, respectively.

First Solar, Intel, Enphase Energy, Dollar Tree, Estée Lauder and Tesla have all declined at least 50% from their recent peaks.