The stock market has trended further downward to hit a new session low. The S&P 500 is now down approximately 1.9%, while the Dow is down by the same percentage and the Nasdaq is down 2.5%.
All ten of the major economic sectors are in the red. Eight have losses in excess of 1.0%. Four have losses in excess of 2.0%.
Dow component General Electric (GE 27.16, -0.83) is struggling this session as its stock hits a new 52-week low. Reports indicate the company is having difficulty finding a buyer for its credit card business.
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