S&P 500 corrections and possible paths: The S&P 500 fell into a correction, accepted to be a 10% decline from its most recent high. Looking at past corrections, those that do not morph into a bear market see only limited additional losses. Those that do turn into bear markets often see a violent, but only brief, rebound, before losing their gains. The past year's action lightly suggests bulls may have some hope of a benign outcome.