Stocks extended losses on Wednesday, with the Nasdaq Composite down more than 2 percent and the broad S&P 500 index breaching a key technical level.

The S&P 500 briefly traded below 1,102.10, its 200-day simple moving average, a sign technical analysts see as bearish and which could trigger more selling.

The Dow Jones industrial average <.DJI> lost 154.85 points, or 1.47 percent, to 10,356.10. The Standard & Poor's 500 Index <.SPX> fell 16.69 points, or 1.49 percent, to 1,104.11. The Nasdaq Composite Index <.IXIC> dropped 42.14 points, or 1.82 percent, to 2,275.12.

(Reporting by Rodrigo Campos; Editing by Jan Paschal)