S&P 500 Drops Below Trading Range as Global Selloff Intensifies
Equities Markets Selloff Into the Close
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The Standard & Poor’s 500 Index tumbled the most since February 2014, sending it below a trading range that has supported it for most of the year amid intensifying concern that global growth is slowing.
The S&P 500 slipped out of the 70-point trading range it has been stuck in since March, falling below 2,040 to as low as 2,035.73. The gauge erased its gain for the year and is now 4.5 percent below its May record. The benchmark slid through its average price for the past 200 days for the fourth time this month, failing to rise back above it by the close for the first time since July 9.