CLOSING BELL

Dow 10282.41  -100.97, Nasdaq 2213.44  -28.59, S&P 1094.60  -13.41 

Stocks closed today near day lows in their worst percentage loss in more than two weeks, as the bears sold stocks due to a disappointing consumer confidence reading and a stronger dollar. 

The February Consumer Confidence Index came in well below expectations and hit a 10-month low of 46.0. Broad-based selling followed the release to take each of the three indices back below their 50-day moving average.

Losses were extended today by the dollar’s strength.  The dollar gained +0.5% against other currencies.

Financials were the worst performing sector today, though they had actually traded with relative strength in the early going. They finished with a -1.8% loss.

The materials sector fell -1.7%. Steel was also one of the worst performing groups in the sector after it had been a leader during recent sessions. Steel stocks fell - 4.0% on the belief that a weaker economy would lessen demand.

The CRB Commodity Index dropped -1.6% today. Today’s trading takes the CRB below its 50-day moving average after it had hit a one-month high yesterday.

Advancing Sectors: None

Declining Sectors: Financial -1.8%, Materials -1.7%, Tech -1.4%, Energy -1.5%, Industrials -1.2%, Health Care -1.1%, Telecom -1.0%, Utilities -0.8%, Consumer Discretionary -0.6%, Consumer Staples -0.6%