Markets Aren't Headed for 10% Correction, but Remain 'Vulnerable' to Fed Chatter

The stock market likely isn't headed for a 10 percent correction, but last Friday's declines show how vulnerable the market is to even the slightest hint of a Federal Reserve rate hike. 'We can't really get too carried away with this,' said Craig Erlam, a senior market analyst at Oanda, based in London, referring to the S&P 500's 2.45 percent decline on Friday. 'This may just be a lot of noise at this stage. This may just still be a sign that the market is a little overheated and is still very vulnerable.' TheStreet's Scott Gamm reports from Wall Street.