cor·rec·tion   (kə-rěk'shən)    n.   The act or process of correcting. Something offered or substituted for a mistake or fault: made corrections in the report. Punishment intended to rehabilitate or improve. corrections The treatment of offenders through a system of penal incarceration, rehabilitation, probation, and parole, or the administrative system by which these are effectuated. An amount or quantity added or subtracted in order to correct. A decline in stock-market activity or prices following a period of increases. cor·rec'tion·al adj.

Correction

Cor*rec"tion\ (k?r-r?k"sh?n), n. [L. correctio: cf. F. correction.]

1. The act of correcting, or making that right which was wrong; change for the better; amendment; rectification, as of an erroneous statement.

The due correction of swearing, rioting, neglect of God's word, and other scandalouss vices. --Strype.

2. The act of reproving or punishing, or that which is intended to rectify or to cure faults; punishment; discipline; chastisement.

Correction and instruction must both work Ere this rude beast will profit. --Shak.

3. That which is substituted in the place of what is wrong; an emendation; as, the corrections on a proof sheet should be set in the margin.

4. Abatement of noxious qualities; the counteraction of what is inconvenient or hurtful in its effects; as, the correction of acidity in the stomach.

5. An allowance made for inaccuracy in an instrument; as, chronometer correction; compass correction.

Correction line (Surv.), a parallel used as a new base line in laying out township in the government lands of the United States. The adoption at certain intervals of a correction line is necessitated by the convergence of of meridians, and the statute requirement that the townships must be squares.

House of correction, a house where disorderly persons are confined; a bridewell.

Under correction, subject to correction; admitting the possibility of error.

Correction

A price reaction (usually negative) of at least 10% for a stock, bond, commodity, or index.

Investopedia Commentary

A healthy market will correct from time to time.

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correction

A sharp, relatively short price decline that temporarily interrupts a persistent upward trend in the market or in the price of a stock.

Main Entry: cor·rec·tion
Function: noun
1 : a decline in market price or business activity following and counteracting a rise
2 : the treatment and rehabilitation of offenders through a program involving penal custody, parole, and probation —often used in pl. —cor·rec·tion·al adjective

Main Entry: cor·rec·tion
Pronunciation: k&-'rek-sh&n
Function: noun
: the action or an instance of correcting or neutralizing a harmfulor undesirable condition <correction of acidity> <correction of visual defects with glasses>