The S&P 500 was on track to close in correction territory in the wake of the White House's latest tariff rhetoric. The market benchmark was down 1.4% to 5,523.35 right before 1 p.m. ET; a close below 5,529.74 would put it in correction territory since it would mark a 10% drop from its Feb. 19 record close. The Dow was down 522 points, or 1.3%.