S&P 500 violates major support, extends historic March downdraft

U.S. stocks are firmly lower early Monday, pressured as an historic March downdraft remains underway.

Against this backdrop, the S&P 500 has extended its violation of major support (2,346) — reaching three-year lows — and dropping within striking distance of deeper technical inflection points.

Before detailing the U.S. markets’ wider view,…