Will the Stock Market Selloff Get Worse? Watch This Number.
The S&P 500 had its worst day in months on Monday, plummeting 1.7% amid fears that real estate giant China Evergrande Group's troubles (ticker: 3333. Hong Kong) could spill over into other markets. On Friday, the S&P 500 fell below its 50-day moving average, a technical indicator that shows investors are losing confidence in the market outlook. The S&P 500 is 3.9% below its all-time high at close of trading on Monday, its lowest level since mid-June.
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