S&P 500 Slumps Below Key Support Level as Rout Resumes: Chart

(Bloomberg) -- The S&P 500 Index fell below its 200-day moving average for the first time since the worst of this year’s market correction as the tech rout and international trade concerns carried over into the second quarter. The benchmark trailed that key support level by as as much as 13 points as stocks fell as much as 2.6 percent intraday on Monday. Investors have watched the gauge bounce around the 50-day and 100-day moving averages during this year’s sell-off, while it has only flirted with the 200-line since late March.

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, Andrew Dunn, Sophie Caronello

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