The stock market recently dipped into correction territory, which is defined as a decline of 10% to 20% from its recent peak. At the time of this writing, the Nasdaq Composite is down 9% year-to-date.

President Tal Cohen is proposing a 24-hour, five-days-a-week schedule, which would represent a seismic shift for the platform. Trading could soon be very different on the Nasdaq stock market if the stock exchange gets its way.

It's been a challenging time for investors, as the Nasdaq Composite (NASDAQINDEX: ^IXIC) has plunged into correction territory -- falling by more than 13% over the past three weeks. Many Americans were already worried about the stock market leading up to this sudden dip.

The market has taken a sharp turn for the worse in recent weeks. The tech-focused Nasdaq Composite (NASDAQINDEX: ^IXIC) plunged into correction territory this week, with the S&P 500 (SNPINDEX: ^GSPC) and the Dow Jones Industrial Average (DJINDICES: ^DJI) not far behind.