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Welcome to The Daily Stock Report...brought to you by QualityStocks.Net, performance tracked daily. I'm Cathy Rankin and for Wednesday February 27th.... we're bringing you the latest news from around the markets as well as the top movers to look out for today... In Headline News Today... Stocks suffered their worst losses since just after the Sept. 11, 2001, terror attacks, prompted by a huge sell-off in China's stock market, higher oil prices and some disappointing economic news. The market decline wiped out all of the year's gains for the Dow and the S&P 500. The sell-off was made worse because computers controlling orders to the New York Stock Exchange couldn't keep with all the business. The decline was the biggest point loss for the Dow since Sept. 20, 2001 when the blue-chip index fell 383 points, or 4.4%, to 8,376. The biggest point loss ever -- nearly 685 points -- occurred three days earlier, when markets reopened after 9-11. Today's Dow loss was also the biggest percentage decline since the index fell 3.67% on March 24, 2003 -- just before the United States invaded Iraq. The Nasdaq's point loss was its biggest since it fell 116 points on Sept. 17, 2001, the day the markets reopened. Is this the correction? It could be, and it has been long expected by many on Wall Street. Yet, technically the market is slightly less than half-way to a correction, which is defined as a pullback of 10% in a major average. The Dow has now fallen nearly 4.5% since hitting a closing high of 12,786.64 on Feb. 20. At the time, it was up more than 19% from lows of last July. The Nasdaq is down 4.6% from hitting a high of 2,524.94 on Feb. 22. The Dow has now fallen nearly 4.5% since hitting a closing high of 12,786.64 on Feb. 20. At the time, it was up more than 19% from lows of last July. The Nasdaq is down 4.6% from hitting a high of 2,524.94 on Feb. 22. The market decline may continue for several days before a bottom sets in perhaps early next week, many traders said. But many money managers and traders insisted the sell-off was not a warning that the U.S. economy was about to plunge into a recession. The Dow has now fallen nearly 4.5% since hitting a closing high of 12,786.64 on Feb. 20. At the time, it was up more than 19% from lows of last July. The Nasdaq is down 4.6% from hitting a high of 2,524.94 on Feb. 22. Stay tuned right here to Quality Stocks Daily for your current updates to this hectic trading day... And be sure to join us every market day for the latest commentary... on small cap to large cap and everything in between brought to you by QualityStocks. Net. Thank you for tuning in, I'm Cathy Rankin. Have a great day and we'll see you next week, right here on the daily report.