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S&P 500 hits lows of session, threatens second breach of support

The index is at its session lows, last at 1553.07. Support noted earlier today at 1551.69 is very close by and could be breached on the downside. If that happens, next support is at 1545.80. Weak financial stocks are a big contributor to today's slide. This is a sector that needs to be watched closely as it has been the leader on the upside since the lows of November last year.