Match ends, Real Madrid 2, Valencia CF 2.
- Real now four points off Barcelona
- Ronaldo, Bale, Hernandez hit woodwork
- Valencia keeper Diego Alves frustrates hosts
- Kroos could be doubt for Juventus game
Real Madrid hit the woodwork three times and Cristiano Ronaldo missed a penalty as they drew with Valencia to devastate their title hopes.
Real came from 2-0 down to draw but they trail Barcelona by four points with two games left.
Paco Alcacer gave fourth-placed Valencia the lead from close range and Javi Fuego headed a second.
Ronaldo had a penalty saved before Pepe gave them hope with a header and Isco curled home from 20 yards to level.
In a further blow for Real Madrid, they lost Toni Kroos to injury midway through the first half.
The midfielder could now be a doubt for Wednesday's Champions League semi-final second leg against Juventus as the defending European champions bid to overturn a 2-1 deficit.
This round of La Liga games is the last before a suspension of football in Spain starts in an argument over television rights.
If a solution is found and the season can continue, Barca - who beat Real Sociedad 2-0 earlier on Saturday - would only need to win one of their final two games - against champions Atletico Madrid and Deportivo La Coruna.
Real Madrid's likely title failure will be down to the fact they have won only one of their six league games this season against the current top four.
Gareth Bale hit the post with a free-kick and Ronaldo hit the bar with a header before Alcacer stabbed home Jose Luis Gaya's cross from close range after beating Pepe to the ball. Keeper Iker Casillas got a touch but could not keep it out.
Fuego then doubled their lead as he headed home Dani Parejo free-kick's from six yards out.
Javier Hernandez hit the post after a one-two with Bale and on the stroke of half-time, Real had a great chance to pull one back.
Gaya shoved Bale over on the edge of the box but Diego Alves dived the right way to save Ronaldo's penalty and the Portuguese failed to score the rebound in the last kick of the first half.
Real Madrid boss Carlo Ancelotti made a double change at half-time, with full-backs Fabio Coentrao and Alvaro Arbeloa coming off for Marcelo and Dani Carvajal.
Real were improved after the break and Hernandez forced a good save before Pepe headed in from Rodriguez's corner.
Valencia keeper Alves, who was magnificent throughout the game, denied Sergio Ramos a leveller with a stunning reaction save from the defender's close-range header.
As Real Madrid pushed for a leveller, Valencia substitute Alvaro Negredo missed two great chances to wrap up the win - blazing over and heading wide in the last 10 minutes.
And the Manchester City loanee was made to pay when Isco fired home with six minutes to go.
- 17ArbeloaBooked at 25minsSubstituted forCarvajalat 45'minutes
- 3PepeBooked at 48mins
- 4RamosBooked at 58mins
- 5da Silva CoentrãoSubstituted forMarceloat 45'minutes
- 8KroosSubstituted forIllarramendiat 25'minutes
- 14HernándezBooked at 45mins
- 7Cristiano Ronaldo
- 20Rodríguez Ruiz
- 1Alves Carreira
- 23OtamendiBooked at 58mins
- 31Gayá PeñaBooked at 16mins
- 10ParejoBooked at 90mins
- 18Fuego Martínez
- 21André GomesBooked at 73minsSubstituted forde Paulat 78'minutes
- 9AlcácerSubstituted forNegredoat 69'minutes
- 11PiattiSubstituted forOrbanat 90'minutes
- 13Rodríguez Oterino
- 20de Paul
- Carlos Clos Gómez
- Shots on Target
Second Half ends, Real Madrid 2, Valencia CF 2.
Foul by Pepe (Real Madrid).
Antonio Barragán (Valencia CF) wins a free kick in the defensive half.
Asier Illarramendi (Real Madrid) wins a free kick on the left wing.
Foul by Shkodran Mustafi (Valencia CF).
Attempt blocked. Marcelo (Real Madrid) left footed shot from outside the box is blocked.
Corner, Real Madrid. Conceded by Lucas Orban.
Attempt blocked. Gareth Bale (Real Madrid) header from the centre of the box is blocked. Assisted by Isco with a cross.
Corner, Real Madrid. Conceded by Nicolás Otamendi.
Attempt saved. Rodrigo de Paul (Valencia CF) right footed shot from the centre of the box is saved in the centre of the goal. Assisted by Álvaro Negredo.
Attempt blocked. James Rodríguez (Real Madrid) left footed shot from outside the box is blocked. Assisted by Isco.
Attempt saved. Javier Hernández (Real Madrid) left footed shot from the centre of the box is saved in the centre of the goal. Assisted by Sergio Ramos with a headed pass.
Daniel Parejo (Valencia CF) is shown the yellow card for a bad foul.
James Rodríguez (Real Madrid) wins a free kick in the defensive half.
Foul by Daniel Parejo (Valencia CF).
Attempt missed. Pepe (Real Madrid) header from the left side of the six yard box misses to the left. Assisted by James Rodríguez with a cross following a corner.
Corner, Real Madrid. Conceded by Lucas Orban.
Substitution, Valencia CF. Lucas Orban replaces Pablo Piatti.
Sergio Ramos (Real Madrid) wins a free kick in the defensive half.