IBD: "Stocks Plunge As Dow Breaks 50-Day; Nasdaq's Worst Day Since Brexit"

From Investor's Business Daily:

Stocks sold off hard into the close as the Dow Jones industrial average joined the other key market indexes by giving up its 50-day moving average.

The S&P 500 sank 3.3%, extending its losing streak for a fifth straight session and nearing a test of its 200-day line. It was its third worst single-day percentage drop this year. The broad sell-off took down all 30 Dow components, as the blue chip index stumbled 3.1%. The Dow closed below its 50-day line for the first time since July 6.

Only one blue chip had held a gain heading into the final hour: Home Depot (HD). But with the sell-off ramping up into the close, Home Depot finished with a 0.6% loss. Microsoft (MSFT), Boeing (BA) and Nike (NKE) were among stocks tumbling 4% or more.

Apple (AAPL) also sank more than 4% for its first close below the 50-day line since July 3. But its stock chart looks better than most other big-cap techs, relatively speaking. Apple could still find support at the line and stage a rebound, or it could form a new base as it continues to trade between 215 and 234....MORE