REFILE-US STOCKS-Wall St falls as jobless claims, Cisco weigh

The S&P 500 fell below its 50-day moving average of 1,088, a key technical support. A break below technical levels could exacerbate a sell-off.

Technicians also are watching to see if the SOX breaks its 324 support level.

“This would be very negative for the U.S. broad market and would suggest that a much bigger decline is coming,” John J. Kosar, director of research at Asbury Research LLC in Chicago, said in a note.

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