US STOCKS SNAPSHOT-S&P 500 on course to confirm correction, falls 10% from Jan peak

The S&P 500 index tumbled on Tuesday and was on track to confirm a correction, as it shed more than 10% from its record closing high on Jan. 3, the first trading session of this year.

The benchmark index was last down 2.4% at 09:55 a.m. EST (1455 GMT).

A correction is confirmed when an index closes 10% or more lower than its record closing level.