U.S. stocks slammed as ECB disappoints
U.S. dollar and Treasury notes are safe havens for investors
NEW YORK (MarketWatch) — U.S. stocks fell sharply Thursday, with the S&P 500 taking its biggest hit in six weeks, after the European Central Bank offered only conditional moves in tackling Europe’s debt crisis.
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ECB President Mario Draghi “came out last week and put his reputation on the line by promising they’ll do whatever it takes, and he failed on that,” said Robert Pavlik, chief market strategist at Banyan Partners LLC in New York.

After falling 193 points, the Dow Jones Industrial Average (DJI JIA) was lately down 131.04 points, or 1%, to 12,840.02, with all but two of its 30 components losing ground, led by aluminum maker Alcoa Inc. (NYSE:AA) .

The S&P 500 index (SNC:SPX) declined 13.91 points, or 1.3%, to 1,361.41, with energy hardest hit among its 10 major industry groups.

“I expect the S&P to try and make a stand over the next day or two in the 1,339 area. Therein lies trend-line support and the 50-day moving average,” said Elliot Spar, market strategist at Stifel Nicolaus.

Knight Capital Group Inc. (NYSE:KCG) shares dived more than 58% to $2.87 a piece after pegging losses at $440 million from a trading glitch and said it was looking at strategic options. Read more about Knight Capital Group.