Wall Street extends sell-off, S&P breaches key level

(Reuters) - U.S. stocks dropped on Thursday, extending a sell-off from a day earlier, after the major indexes broke though some key technical levels as risk-appetite showed no signs of picking up.

The benchmark S&P 500 dropped below its 200-day moving average price, while the Dow Jones Industrial Average slipped below its 100-day moving average. The Nasdaq was also trading below its 200-day moving average.

At 11:16 a.m. ET the Dow was down 333.92 points, or 1.30 percent, at 25,264.82, the S&P was down 37.07 points, or 1.33 percent, at 2,748.61 and the Nasdaq Composite was down 72.61 points, or 0.98 percent, at 7,349.44.

 

(Reporting by Shreyashi Sanyal in Bengaluru; Editing by Shounak Dasgupta)