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Michael Ashbaugh

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March 25, 2021, 12:20 p.m. EDT

S&P 500 whipsaws at 50-day average, Nasdaq ventures under key support

Focus: March currency cross currents persist, Consumer staples break out amid weakness elsewhere, UUP, FXE, XLP, PG, CSCO, STLD

By Michael Ashbaugh, MarketWatch

U.S. stocks are lower early Thursday — though well off the session’s worst levels — pressured amid a persistently jagged late-month downturn.

Against this backdrop, the S&P 500 has whipsawed at its 50-day moving average, currently 3,870, while the Nasdaq Composite has ventured under important support matching the 2020 peak (12,973). Elsewhere, the small- and mid-cap benchmarks have ticked higher early Thursday, rising amid a still rotational market backdrop.

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