The major averages have drifted even lower over the past 30 minutes, with the Dow and S&P 500 both hitting session lows just minutes ago. Each of the major indices have since bounced slightly higher, but are still logging significant losses.
The S&P 500 is near the key 900 level, although it has yet to breach it. Additionally, volume has been slowing, and will likely continue to drop off ahead of the long Fourth of July weekend.