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S&P 500 Today Fails A Key Test As Dow Tumbles Another 500 Points

Investor's Business Daily
S&P 500 Today Fails A Key Test As Dow Tumbles Another 500 Points

The S&P 500 today fell nearly 2% and the Dow matched its loss as selling intensified in the final phase of the session. The S&P 500 was down 2% and traded near session lows as sellers swarmed in late trading. The index was briefly higher but sank below its 200-day moving average for the first time since May 3. It hasn't closed below the line since April 2. The Nasdaq composite fell further below its 200-day average as it lost another 1.8%. Strength in semiconductors gave the composite some help. The Nasdaq's advance-decline line has plummeted to the lowest level since mid-February. A weakening trend was named as a warning sign for the market in The Big Picture last week. The Dow Jones industrial