Market Update

1:21 p.m. ET SP-500 -1%, Dow -0.35% (Transports -1.65%), NASDAQ-100 -1.75%, Small Caps -0.5% The NASDAQ-100, Dow and S&P made new session lows around 12 p.m. and may be bouncing off those lows, or it may just be an intraday jiggle. Market breadth shows a bias towards selling. Decliners lead advancers by a 2-to-1 margin…