Trading in New York Stock Exchange-listed stocks on Monday were exhibiting panic-like-selling behavior as global stocks confronted a sharp selloff that has been attributed partly to concerns about the collapse of Chinese developer Evergrande. The NYSE Arms Index, a volume weighted breadth measure that tracks the ratio of advancing stock to declining stocks over the ratio of advancing volume over declining volume, was showing a reading of 2.088 for NYSE-listed shares. Many technicians say a rise to at least 2.000 suggests panic-like selling behavior. The reading comes as the Dow Jones Industrial Average
DJIA,
-2.22%

was off 2.4% at 33,762; the S&P 500 index
SPX,
-2.20%

was off 2.4% at 4,327 and the Nasdaq Composite Index
COMP,
-2.62%

was trading 2.8% lower at 14,616.

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