U.S. stocks see fresh pain; eyes biggest weekly decline of year

U.S. stocks extended this week’s losses with a renewed selloff on Friday. The main indexes are on track to post their steepest weekly declines of this year.

The S&P 500 SPX, -0.88% were off 11 points, or 0.6%, to 2,023, paring its decline somewhat from a quick downdraft at the open of trading Thursday morning. Still, all the benchmark-indexes’ sectors were in the red, with consumer discretionary hit hardest.

The S&P 500 index is trading well below the 200-day moving average level after breaching it on Thursday as is the Nasdaq 100 NDX, -1.03%

For many technical analysts, breaching of that level means further declines .... http://www.marketwatch.com