Wall Street tumbled again today, with the benchmark Standard & Poor’s 500 index falling to a new low for the year after another round of soft economic data was released, MSNBC reported.

The U.S. services sector index fell in July to its lowest level since February 2010, while new factory orders fell in June, pulled down by weak demand for transportation equipment.

“More of the same, we continue to disappoint. It’s not just us, it’s the whole world. I’m having trouble now remembering the last good data point,” said Uri Landesman, president of Platinum Partners, a group of alternative investment managers in New York City.

“We’ve had a very good run over nearly the whole last year and it was kind of bound to happen, and with this kind of data, it was almost a no-brainer,” Landesman said.

The S&P 500 turned negative for the year on Tuesday, falling through its key 200-day moving average. Today, the benchmark broke below the intraday low for the year of 1,249.05, seen as the next critical technical support.

If the Dow Jones industrial average closes lower today, it will mark the ninth day of losses for the blue-chip index and its longest slump since 1978, according to Bloomberg News.