correction

American  

[kuh-rek-shuhn] / kəˈrɛk ʃən /

noun

1. something that is substituted or proposed for what is wrong or inaccurate; emendation.

2. the act of correcting.

3. punishment intended to reform, improve, or rehabilitate; chastisement; reproof.

4. Usually corrections. the various methods, as incarceration, parole, and probation, by which society deals with convicted offenders.

5. a quantity applied or other adjustment made in order to increase accuracy, as in the use of an instrument or the solution of a problem.

   A five degree correction will put the ship on course.

6. a reversal of the trend of stock prices, especially temporarily, as after a sharp advance or decline in the previous trading sessions.

---

correction British  

/ kəˈrɛkʃən /

noun

1. the act or process of correcting

2. something offered or substituted for an error; an improvement

3. the act or process of punishing; reproof

4. a number or quantity added to or subtracted from a scientific or mathematical calculation or observation to increase its accuracy

---

Usage

What is a correction? A correction is something substituted for something that is wrong or inaccurate, such as when a newspaper issues a correction to a story it got wrong.A correction is also an adjustment or addition to something to make it more accurate, as when you make a steering correction while driving to ensure you are in the center of your lane.A correction is also a punishment that is meant to help you reform or improve. This is the type of correction connected with prisons, also called correctional facilities.Example: We are applying a correction to the story after it came out that one of the sources was lying.

Other Word Forms

• noncorrection noun
• precorrection noun

Etymology

Origin of correction

1300–50; Middle English correccio ( u ) n (< Anglo-French ) < Latin corrēctiōn- (stem of corrēctiō ) a setting straight. See correct, -ion

Example Sentences

While the Dow and the Nasdaq have both dipped into correction territory, the S&P 500 remained 6.4% below its Jan. 27 record high of 6,978.60 on Tuesday, Dow Jones Market Data showed.

From MarketWatch

Stocks have taken a hit, with only the S&P 500 among the four main U.S. equity indexes avoiding a correction in March, defined by a drop of at least 10% from a recent peak.

From MarketWatch

“Stocks often price in gloomy scenarios during corrections that often don’t materialize. This resets expectations and creates a lower bar to clear,” he added.

From Barron's

U.S. stocks wavered after a bruising selloff last week that put both the Dow Jones Industrial Average and the tech-heavy Nasdaq composite in correction territory.

From The Wall Street Journal

Despite the Nasdaq’s correction and broader market pullback, dividend-paying stocks showed strength, with some ETFs gaining up to 2% last week.

From Barron's