A 10 percent drop in any market means that market is in a correction. A drop of 20 percent is normally defined as a bear market.
The Dow Jones Industrial Average (DJIA) is down 5.25% from its high in early January.
IWM, which tracks the Russell 2000, is down 16.5% since it's high in 2021.
The NASDAQ 100 is down 15% since its high in November 2021.
The S&P 500 index is down 5.87%.
The drop in prices have been strongest in tech and small caps, with larger cap stocks not reaching correction status quite yet.