Wall Street kind of fell apart in the last hour or so, with the Dow closing down 96 points, to 9774. This bit from Reuters tells the story:
Analysts said the fact the S&P 500 was holding at about 1,040 in the wake of Tuesday's slide was positive. "That 1,040 level is holding, so for the time being everyone is looking at that level. Sometimes you can have a lot of support when a lot of people are looking at a level like that," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research in Cincinnati, Ohio. "If it breaks, it's clearly bad, but in the meantime, it is holding so it is good in the short term."
The S&P 500 closed at 1030.
*Dow was off 10 percent in the April-June quarter.