Technicals Point to More Downside After S&P Sheds 4.5%s

The market was pummeled again Thursday amid fears that the global economy is headed for another painful recession. The Nasdaq led all major indices lower, dropping 5.2%, while the Dow held up best, only down 3.8%. The Europe is the main culprit, and the continent's sovereign debt crisis still has no end in sight. Japan also significantly lowered GDP forecasts this morning. Investors fled...

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