S&P 500 Tests Key Technical Level as Equities Rout Worsens
- 50-day moving average in jeopardy for first time since August
- Dow average also tests support as rout approaches 6 percent
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The violent selloff in U.S. equities is threatening a key support level for two major stock indexes.
The S&P 500 Index slumped as much as 1.6 percent Monday, briefly dipping below its average price for the past 50 days for the first time since August. The Dow Jones Industrial Average also saw its five-month streak of trading above that measure halted, as its selloff from a Jan. 26 record approached 6 percent.