The s hello helloelloff continues, led by sharp declines in the NASDAQ index, which is currently down 443 points or -2.49%. The S&P 500 is lower by 1.8%, while the Dow Jones Industrial Average is down 1.52%.

Technically, the NASDAQ is approaching a key support level: the 38.2% retracement of the rally from the late October 2024 low. That October low marked the last time the index closed below its 200-day moving average—prior to the recent break below it earlier this month. The 38.2% retracement level stands at 17,278.18, and earlier lows this month also found support near that area. A break below this level would reinforce the bearish bias and could open the door for further downside.