Correction watch: Here are the levels to watch

Hitting rock bottom? Market pros weigh in
Hitting rock bottom? Market pros weigh in   

As U.S. stocks hover near session-low levels, two indices are inching closer to official correction territory while the Nasdaq has already entered into a correction.

For this month's sell-off to turn into a correction, the S&P 500 will have to drop a little more than 1 percent to 1,817 while the Dow would have to drop a tad more than 2 percent to 15,614.

Trader on the floor of the New York Stock Exchange.
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Trader on the floor of the New York Stock Exchange.

The Nasdaq already slid briefly into correction territory by dipping below 4,149.

Stocks have been hard hit by concerns about global growth, weak domestic data and Ebola. To read the latest developments in the market, click here.