NASDAQ & S&P ended on a lower note

[gnutrade.satya]

Second day of the week the investors were little cautious and the US stocks like NASDAQ & S&P ended on a lower note by a wave of increasing alarm over the global economic outlook.
Marc Pado, US market strategist at Cantor Fitzgerald & Co. in San Francisco said: "Everybody is talking about 1,040, that it is the do-all, end-all, blow it up, end of the world, blood on the streets level. The market crashes, the S&P goes to 900."
Elliot Spar, option market strategist at Stifel Nicolaus in Shrewsbury, New Jersey said: "The break of the 200-day moving average fueled more selling. Technically, this is another sign of weakness in the financials."
The Dow-Jones 30-share index dropped 268.22 points to 9,870.30, while the broader based S&P 500 down 33.33 points to 1,041.24. The tech-heavy NASDAQ Composite indexd down 85.47 points to 2,135.18.