US stocks extend fall. Nasdaq down over 2%. Dow down -1%

The major US stock indices are continuing their slide with

• NASDAQ now down -2.10% at 19,600.
• S&P is down -1.40% at 5952.00
• Dow industrial average is down -0.98% at 42900.29

The Russell 2000 is down -40 24 points or -1.85% at 2239.20

US yields have started to move back to the lower after the sharp fall in stocks.

• 2-year yield 4.307%, -2.4 basis points
• 5-year 4.422%, -1.0 basis points
• 10 year 4.582%, +0.4 basis points
• 30 year 4.779%, +1.7 basis points

The NASDAQ index reached a low price of 19572.32. It 200 hour moving averages at 19488.03. In trading on December 18 and again on December 20, the price moved below that 200-hour moving average but rebounded within an hour or two. Getting and staying below that moving average would increase the bearish bias.

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