Selling peaked just ahead of the European close
The low of the day came about 5 minutes before the European close but there's been a considerable bounce since and the S&P 500 is up 38 points, or 1.3%, to 3040.
The buyers were waiting around the 3000 level, which corresponds to the 200-day moving average. That level looks safe but you can never rule out selling into the close. There's a decent amount of fear out there.
Here's a three-day chart:
Aside from the virus, there is some weekend risk with a slate of Chinese data including retail sales and industrial production.
