S&P 500, Nasdaq close lower to snap two-day rally, Dow sheds 200 points

Stocks are still in a bear market rally and bitcoin could fall as low as $13,900, says Fairlead's Katie Stockton

"What we've had here is a macro shift that's driven this relief rally," she added. "It was really similar to what happened over the summertime, where we saw the S&P 500 peak in mid-August. The 10-year Treasury yields had been correcting ahead of that peak for several weeks.

Bank of America has trimmed its Tesla price objectives citing ongoing issues for the electric automaker industry, including supply chain woes that will hinder any recovery.

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