The brief respite bounce after Europe closed has failed and US equity markets are tumbling once again.

Nasdaq is leading the drop...

 

With FANG Stocks erasing all the post-NFLX earnings gains...

 

S&P is near its 50-day moving average and Nasdaq just broke below its 50-day moving-average for the first time in over a month...

 

And Nasdaq VIX is back above 18.