Major US stock indices are moving to session lows.
The Dow industrial average is now down around 850 points or -1.98% at 42114.88. The S&P index is down -78 points or -1.25% at 5969.73. The NASDAQ index is down -283.1-1.44% at 19379.62
Both the NASDAQ and the S&P index are testing their 100-hour moving averages. For the S&P index the 100 hour moving average is at 5962.84. The low price reached 5964.26, just above the 100 hour moving average.
For the NASDAQ index the 100-hour moving average is at 19384.13. The current prices are just above those levels.. The low price just reached 19369.32 – below the level.
This article was written by Greg Michalowski at www.forexlive.com.