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A tough week in US stock markets is getting tougher by the minutes. The S&P 500 is at the lows of the day, down 1.1% to 6646. That’s the loweset since Oct 17 as the late-October low is cracked and more stops are hit.The index is down 2.8% on the week compared to the Nasdaq down 4.6%.The real pain is in some of the high flyers with some Mag7 names down hard, including Meta, which is now down 24% from its record high.
This article was written by Adam Button at investinglive.com.
💡 DMK Insight
The S&P 500 just hit a new low, and here’s why that matters: breaking below 6646 could trigger further selling pressure. With the index down 2.8% this week, traders need to watch for potential cascading effects as stop-loss orders get triggered. This kind of movement often leads to increased volatility, especially if we see a rush of retail investors panicking. The broader market context shows that sentiment is shaky, and economic indicators like inflation and interest rates are still looming large. If the S&P can’t reclaim the 6700 level soon, we might see a deeper correction, possibly testing the October lows again. But don’t overlook the flip side—if the index finds support around these levels, it could set up a bounce. Keep an eye on volume and market breadth for clues. Watch for any news that could shift sentiment, especially from the Fed or economic data releases in the coming days.
📮 Takeaway
Watch the S&P 500 closely; a failure to reclaim 6700 could lead to more downside, while support around 6646 is critical for a potential bounce.
