The major indices have opened lower and are making a sharp move downward. All ten of the major indices are trading in the red.
A lack of leadership continues to plague stocks as the S&P 500 is
now down 46% year-to-date. Some market technicians posit that the
stock market may retest the October 2002 low of 768.63, which would
mean a drop of roughly 2.5% from current levels. Whether stocks push
through that low or find enough support to encourage a rebound will
only be seen.