US STOCKS-Wall St falls as short-term technicals weaken
* Durable goods data unexpectedly weak
* Kraft up 42 pct, Kofax adds 46 pct after separate deal news
* Indexes off: Dow 1.1 pct, S&P 0.8 pct, Nasdaq 1.6 pct (Updates prices, adds data, comment)
By Rodrigo Campos
NEW YORK, March 25 (Reuters) - U.S. stocks fell on Wednesday, with losses accelerating after short-term technical indicators failed and after a gauge of industrial orders that unexpectedly fell last month.
Losses on the S&P 500 accelerated around mid-session after the benchmark dropped below a support level near 2,085. An index of biotechnology shares dropped sharply and is on track to close below its 14-day average for the first time since Feb. 11.
"The S&P was trying to hold just below 2,090 but failed; maybe it's not much more than technical levels traders are playing with right now," said Jim Paulsen, chief investment officer at Wells Capital Management in Minneapolis.
"Technicals take over on this market just being unable to break away on the upside."
An earlier government report showing a drop in durable goods orders pushed the dollar index lower, giving initial support to equities as it eases fears that the rally in the U.S. currency will hurt corporate earnings. However, with valuations stretched as stock indexes trade near record highs, weak economic data is not welcome. Continuación...