Stocks tumbled, as investors geared up for a key summit on Europe's debt crisis. Also, consumer confidence fell sharply to 39.8 in October - its lowest reading since March 2009. Home prices edged up 0.2% for a fifth straight month in August, but remain down 3.8% on a yearly basis. 3M and Cummins fell sharply ondisappointing earnings. Tech sector closed in the red dragged down by a huge decline by Netflix. Netflix plummeted almost 35%, a day after the company announced it lost 800,000 U.S. subscribers in the quarter. Texas Instruments gave up 2.3% a day after the chip maker reported a drop in profit. IBM said its board has authorized $7 billion in additional funds for a company stock buyback program and lost 1%. After the close Amazon lost 13% lower following the report of a 73% fall in third-quarter earnings. Broadcom fell 4.6% after disappointing earnings forecast. Investors are awaiting a European summit today, when government heads have pledged to unveil a comprehensive plan to tackle the region's debt crisis. Implied volatility inched higher on very light volumes.NEAREST RESISTANCE LEVELS: 57.55, 58.0, 58.2, 58.7, 59.3
NEAREST SUPPORT LEVELS: 57.0, 56.8, 55.8, 53.0, 50.0
