DJIA down..................... 414.65 (-1.57%) at 26,015.92
S&P 500 down................. 46.65 (-1.62%) 2,833.69
Nasdaq composite down....179.88 (-2.32%) at 7,558.14
From Investor's Business Daily, 12:05 PM ET:
Stock market bears hammered the bulls late Wednesday morning, as the intensity of the selling picked up. In the meantime, defensive stocks — such as food, medical supplies and utilities — posted gains.
The Nasdaq crumbled 2.1%. while the S&P 500 and the Dow Jones industrial average each lost 1.4%. Small caps also faltered as the Russell 2000 declined 1.3%.
Volume accelerated on the NYSE but fell on the Nasdaq vs. the same time Tuesday.
The S&P 500 pierced its 50-day line Wednesday morning. If the index closes under the line, the violation would be the first since early July. Meanwhile, the Nasdaq is trading well below its 50-day line and is approaching the 200-day line.
Action was mostly negative among top-rated stocks.
The Innovator IBD 50 Fund (FFTY) stabbed 4% lower. The exchange traded fund based on the IBD 50 is now 13% off its high and under its 50-day and 200-day moving averages....MORE
