US STOCKS-Wall St sells off late, S&P 500 falls below 1,900

miércoles 13 de enero de 2016 16:12 GYT
 

* S&P 500 falls below 1,900 for first time since early Oct

* Amazon biggest drag on S&P 500, Nasdaq

* Indexes down: Dow 2 pct, S&P 2.2 pct, Nasdaq 2.9 pct (Updates to late afternoon)

By Caroline Valetkevitch

Jan 13 (Reuters) - U.S. stocks sold off sharply in late Wednesday trading, pushing the S&P 500 below 1,900 for the first time since early October, after the market failed to hold its early rally.

All 10 S&P 500 sectors were in the red and extending losses in afternoon trading. Decliners outpaced advancing issues on the NYSE by a ratio of 7.53-to-1 and by 6.44-to-1 on the Nasdaq.

The S&P 500 is now down more than 11 percent from its May 20 lifetime high, while the Russell 2000 dropped 3.5 percent and was on pace to end the session in bear market territory.

Analysts noted a trend in stocks selling off significantly once a rally has faded.

"Thus far in the new year, buyers have waited until late in the day and created sharp late day rallies. These rallies have prevented the market form settling on its lows," said Michael O'Rourke, chief market strategist at JonesTrading in Greenwich, Connecticut.   Continuación...