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  • The S&P 500 is resuming its fall dropping to fresh 2020 lows. 
  • A break below the 3100 level can lead to more down. 
  • The Coronavirus is spreading in multiple countries with new cases being reported virtually by the minute. 

S&P 500 daily chart

The S&P 500 Index is having a deep pullback down below the 50/100-day simple moving averages (SMAs) as bears are challenging the 3100 figure at fresh 2020 lows. The spread of the Coronavirus is making investors fearful about global growth. A break below the above-mentioned level could to further selling with an extension down towards the 3000 figure and the 2900 level.

Additional key levels