Late-Day Selloff Sends Stocks To 5-Month Low; Key Technical Levels Breached – JJ Kinahan


Yesterday it was FAANGs to the rescue. Today, they didn’t show up to give the market a lift, and stocks fell sharply to new five-month lows in another Wednesday washout.  Selling seemed to accelerate in the last hour, wiping out all of the market’s gains for the year and taking the S&P 500 Index down to just above correction territory. All of the major indices got crushed, with losses ranging from 2% to 4%. Small-caps, large-caps, techs, transports—few escaped the carnage…….

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