Charting a failed technical test: S&P 500, Nasdaq plunge from 50-day average

U.S. stocks are firmly lower early Wednesday, pressured amid the U.S. Treasury yield curve’s inversion, an event widely-viewed as a pending recession indicator.

Against this backdrop, the S&P 500 and Nasdaq Composite continue to whipsaw amid August volatility, pulling in aggressively from failed tests of the 50-day moving average.

Before detailing the U.S. markets’ wider view, the S&P 500’s

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