Stocks At Session Lows, Key Technical Levels Broken

Stocks have continued to sell off since the opening bell, as traders begin to assess how big of an issue Italy may just become. As such, stocks are at their lows of the day, and could see additional selling pressure in the last 45 minutes of trading. At last check, the Dow was off 180 points, the S&P was lower by 26 points and the NASDAQ is off 62 points. 1,317 on the S&P 500 has been breached, and the next level is 1,312. If this level is breached, we could see a huge rush to the downside. Alcoa AA is set to report earnings tonight after the bell.