S&P 500 Breaks Below November Low of 741

February 27, 2009 9:53 AM EST
The S&P 500 has officially broken below its November low level of 741. The index most recently traded at 736, down 2.1% from yesterday's closing price. The news is concerning as the index has so far held this level after coming relatively close numerous times.

Also, the Dow Jones Industrial Average is coming dangerously close to breaking below the 7,000 level. The index has now bounced slightly off its intraday low of 7,033, and most recently traded at 7,062.

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