The S&P 500 index fell below the psychological level of 1,900. Some traders believe The level of 1,867 is likely to be its next support.
But it could be heading for 1,600, said Stephen Suttmeier, chief equity technical strategist at Bank of America Merrill Lynch Global Research. He added that some market signals indicate a top.
If the level of 1,867 persists, traders will see the top reached last year.
The break of this level would mean a slump to 1,575 that the S&P touched three years ago.
Stock markets hit the panic button after the S&P 500 dropped 2.5% on Wednesday.
Currently, the prevailing trend is bullish, but there are clear signs the bear market has set in.
