Meaning of “market correction” in the English Dictionary

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"market correction" in Business English

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market correctionnoun [ C ]

uk us also stock market correction, correction FINANCE, STOCK MARKET

a reduction in prices in a financial market when they have been too high, bringing them back to a level closer to the actual values of companies and the real situation in the economy:

Despite the market's vertical rise, analysts said they still don't see a major market correction in the near future.

(Definition of “market correction” from the Cambridge Business English Dictionary © Cambridge University Press)