S&P 500 teeters at key threshold as 6,600 line could spur 10% drop
TL;DR Summary
U.S. stocks hovered near the S&P 500’s 200‑day moving average (about 6,615) with Wednesday’s close around 6,625, as the 6,600 level has been tested multiple times. BTIG’s Jonathan Krinsky warned a break could push the index toward 6,000 and potentially trigger a 10% drop, while the Dow and Nasdaq also slipped below or near their moving averages; oil climbed on regional tensions and Micron’s after‑hours weakness underscored continuing tech‑sector risk.
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