S&P 500 Bottom-Fishers Eye Next Support Levels as Rout Deepens
Traders work on the floor of the New York Stock Exchange.
Photographer: Michael Nagle/BloombergA spiraling tech stock selloff has the S&P 500 Index hovering just above a key technical trend line, with traders poring over charts to determine how much further the equity benchmark might fall.
The index closed down 1.2% at 6,798.40 on Thursday, as concerns over the impact of artificial intelligence spilled into the broader market. For a time, that drop took the S&P 500 below its 100-day moving average of 6,797, a line that acted as a support level since May 2025, according to market technicians.