The Nasdaq Composite Index was pointed toward a sharply lower open on Wednesday, and the loss could be large enough to push the tech-heavy index into correction territory for the first time in about two years. While the Nasdaq COMP, -1.80% on Monday neared that level -- defined as a 10% drop from a closing peak, which would represent a close at or below the level of 6,829.49 -- it remained a few points shy of it. The Nasdaq closed Tuesday at 6,941.28, but Nasdaq-100 futures NQH9, -2.27% pointed to a drop of 112 points at the open. Both the Dow Jones Industrial Average DJIA, -2.04% and the S&P 500 SPX, -1.50% have been in correction territory since February. The Nasdaq has stayed within 10% of its record high, thanks to what had been long-term outperformance by large-capitalization technology and internet stocks. However, those sectors have been extremely volatile of late, pushing the overall index lower. The last time the Nasdaq corrected was in February 2016, according to the WSJ Market Data Group.
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