The sell-off in U.S. stocks worsened this week, and on Tuesday the Dow Jones Industrial Average ($DOWI) shed almost 400 points for its worst day since March. In a noteworthy sign of market weakness, the index closed below its 200-day moving average for the first time since May. The Dow finished in the red yesterday, as well, even as the S&P 500 Index ($SPX) and the Nasdaq Composite ($NASX) closed marginally higher.
Tech stocks have been hit hard and have pared gains considerably from their stellar first-half rally. The macroeconomic environment has worsened, and the recent rise in gasoline prices might also make matters worse.
