Dow, S&P 500 Drop Below 200-day Moving Average, Joining Other Major Stock Market Indexes

The Dow Jones Industrial Average and S&P 500 index have fallen Monday below its widely-watched 200-day moving average in intraday trade for the first time in three months, to join all the other major market indexes below the key technical threshold. Many chart watchers view the 200-day MA as a dividing line between longer-term uptrends and downtrends. The Dow slumped 238 points to 17,162, below the 200-day MA at about 17,241, according to FactSet. The S&P 500 was shedding 1.5% to 2,007, below its 200-day MA of about 2,021. The Nasdaq Composite , Russell 2000 , NYSE Composite Index , Dow Jones Transportation Average and Dow Jones U.S. Total Stock Market Index were all below their respective 200-day MAs.