NO- What you witnessed was computer-driven program selling.
PreProgramed sell Stop orders going off in domino fashion.
Faster than you can click a mouse. The ETF (exchange traded funds) baskets can immolate a whole sector in the blink of an eye today.
We just regroup, and go from here.
50 day moving averages were not even touched.
The market has been WAY overbought for some time.
Short sellers did GREAT if the could get in, or saw it start.