S&P 500 slides into ‘correction’ for second time this year

New York: US stocks closed lower Friday, bumping the benchmark S&P 500 index into a correction, or drop of 10 per cent or more from its recent all-time high in September. Energy companies led the market slide as the price of U.S. crude oilNSE 1.23 % tumbled to its lowest level in more than a year, reflecting worries among traders that a slowing global economy could hurt demand for oil.

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