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Well, the only word that can explain today's trading action (and the week for that matter) is RED. Red, red, red - the markets were seeing red this week like the Pamplona Bull Run had come one month late. On a more serious note, US markets saw pressure from the get-go today as triple digit losses in the Dow Jones Industrial Average (-3.12%) are becoming more of a reliable occurrence than old age. Today, the Dow fell at one point more than 525 points, and finished the day near lows of 16459. Not to be outdone, the S&P 500 (-3.19%) and the Nasdaq Composite (-3.52%) also saw their fair share of losses on the session, both ending Friday trade (and the week) lower.

The S&P 500 ripped eclipsed its 200 day simple moving average yesterday, and today seems like it is not looking back. As mentioned earlier, the Dow continued ripping lower this week shedding ?more than 1000 points in the five-day span, touching levels not seen since . The Nasdaq also ripped through its 200 day sma yesterday, and today continued the downward trend.

Notable tech names Hewlett-Packard (HPQ 27.49, +0.14 +0.51%), which is recently to be split into two companies, (CRM 69.25, +1.43 +2.11%), and Intuit (INTU 89.28, -13.65 -13.26%) reported quarterly results in the overnight session.

Other notable tech names seeing pressure on the session include social media giant Facebook (FB 86.06, -4.50 -4.97%) which like the broader market, has seen a week of losses. Google (GOOG/GOOGL 612.48, -34.35 -5.31%) which has pared back to back session toward the downside to end near...