It was a back-and-forth session of trading as tech battled with economic worries but ultimately the bears won as heavy selling hit in the final 10 minutes of trading.
- S&P 500 -0.6%
- Nasdaq Comp -0.2%
- DJIA -1.0%
- Russell 2000 -1.2%
- Toronto TSX Comp -1.3%
One stock to watch is PacWest Bancorp, which fell 15% in a sign that banking worries continue to fester. In terms of big cap stocks, Nike fell 2.7% in an indication that strong retail sales today didn't assuage economic fears. Megacap tech outperformed, led by Amazon, Microsoft, Baidu and Google. Breadth continues to be a problem and there's a potential double top on the daily S&P 500 chart (above).
