On a headline basis, the S&P 500 has re-violated major support, circa 2,450, reaching one-month lows. Meanwhile, the Russell 2000 has concurrently violated the marquee 200-day moving average for the first time this year.
NEW YORK (Reuters) - U.S. stocks sold off on Thursday, with the S&P 500 recording its biggest daily percentage drop in three months as escalating worries about the Trump administration's ability to push through its economic agenda rattled investors.
The S&P 500's bull trend is technically intact in the wake of the most aggressive market downturn since May. Still, the market technicals have softened, on the margin, and the prevailing backdrop is not one-size-fits-all.
U.S. stocks are lower early Thursday, pressured after marquee disappointing earnings reports - from Cisco Systems and Wal-Mart Stores - combined with a delayed reaction to the Federal Reserve's meeting minutes, released Wednesday afternoon.