US major indices sink but bounce off session lows. Russell 2000 leads the way lower

US major indices sink, but close off lows. Russell 2000 led the way to the downside. The Dow and the NASDAQ closed down near 1%.

A snapshot of the final numbers shows:

• Dow industrial average -396.63 points or -1.00% at 39170.23. At session lows the index was down -515.16 points
• S&P index -37.98 points or -0.72% at 5205.80. At session lows the index was down -59.73 points.
• NASDAQ -156.38 points or -0.95% at 16240.45. At session lows, the index was down -259.60 points.,

The small-cap Russell 2000 closed down -37.80 points or -1.80% at 2065.03. At session lows the index was down -48.49 points.

For the broad S&P index, it was able to recover back above its 100 hour moving average currently at 5200.25. That moving average will be a barometer for buyers and sellers going forward.

This article was written by Greg Michalowski at www.forexlive.com.