Dow Jones opens in correction territory

The Dow Jones Industrial Average fell more than 500 points at the opening of the New York Stock Exchange on Tuesday, a day after the index plunged a record 1,175 points.
2:17 | 02/06/18

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Transcript for Dow Jones opens in correction territory
This is an ABC news special group. George Stephanopoulos. On good morning freed those you just joining us we are coming on the air now with the bell on Wall Street there it is right now forced to got coming off two tough games 1155. Point drop yesterday. On top of 666. Points on Fridays to see right there. The Dow down again starting this morning third day in a row. Wiped out all the games for the last year I'm here for good for this first month of the year. And Rebecca Jarvis and other chief business correspondent said the last year's and isn't markets down now more than 500 points officially down 10%. From its high they called it a correction. Exactly George correction territory means that after a long upward trajectory which we have now been on for many many years after a long upward trajectory. The Dow now down more than 10%. That is in the near term and often times. Wall Street is looking for something like a correction George to say it's safe to get back into the market that's what traders look at it as for the long term investor. People who have a 401K for example that nest egg. It's all about thinking over the long but again let's put this into some context you have no doubt coming off a powerful run for many years. In nine years essentially George if you look at the last nine years since march of 2009. The markets have been on an upward trajectory about 160%. Higher since January of 2009 in just the last year even after. All of the selloff that we've seen in recent days and just the last year stocks are still over the full here. Up about 20% in the last. Couple of weeks so far this year stocks are now negative but even here at 23854. Points. We're back to basically where stocks work late in 2017 so even after all of this tumbled George you're basically seeing the markets shave off about three months worth. The work and part this is a reload result of a strong economy is what we're gonna watching this all day long you'll be back. For the West Coast edition of GMA Rebecca I know and therefore all the home need the latest breaking news alerts anytime by downloading the ABC news happen. We return battering their programs for many view that is jamming. This has been especially. From the keys.

This transcript has been automatically generated and may not be 100% accurate.

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