United States Steel Plunges Below $30

Shares of United States Steel X are freefalling in today's session, currently down 8.4% from Friday's close to $30.38. The stock broke below $30 at 12:39pm, hitting an intraday low of $29.94 before finding support. Shares of U.S. Steel have not traded below $30 since July 13th, 2009. The stock has seen a dramatic 32% selloff over the past eleven trading sessions – dropping from a high of $44.64 on July 25th to its current price just above $30. Today's capitulation may be the catalyst for a short-term upside correction. Keep a close eye on this stock, as volatility has been extremely high as of late.