Stocks Drop Below Key Support Level as Trade Angst Grows: Chart

The S&P 500 Index is sinking back below its 100-day moving average.

Richard Richtmyer

23 Mar 2018, 11:22 AM IST

Stocks Drop Below Key Support Level as Trade Angst Grows: Chart

A trader works on the floor of the New York Stock Exchange (NYSE) in New York. (Photographer: Michael Nagle/Bloomberg)

(Bloomberg) -- The S&P 500 Index is sinking back below its 100-day moving average after investor unease over a potential trade war with China and continued fallout from Facebook Inc.’s data debacle triggered the latest swoon. The benchmark for U.S. equities has rarely dipped below that line in recent years. It traded at a record high above it just eight weeks ago.

To contact the reporter on this story: Richard Richtmyer in New York at rrichtmyer@bloomberg.net.

To contact the editors responsible for this story: Arie Shapira at ashapira3@bloomberg.net, Brendan Walsh