Major US stock indices close that session lows with the broader indices having their worst trading day since the end of 2022.
NASDAQ index has its worst day since November 2 2022. The NASDAQ is closing down -3.64% S&P index has its worst day since December 15, 2022. The S&P is closing down -2.32%
The late day selling has pushed the NASDAQ index below its 38.2% retracement of its last trend move higher from the May 21 low:
The Dow industrial average fell -1.29% just last week. Today it stumbled by -1.25%.
A look at the final numbers shows:
Dow Industrial Average average fell -504.22 points or -1.25% at 39853.86. The close is back below the 40,000 level.S&P index fell -128.63 points or -2.32% at 5427.12NASDAQ index fell -654.94 points or -3.64% at 17342.41.
From its most recent high, the NASDAQ has fallen -7.20%.
For the Magnificent 7, from most recent highs to low prices today, five of the seven have fallen over 10% with Tesla down -20.77% from its most recent highs.
Meta Platforms is down -15.5% from its high Amazon is down -10.3% from its highNvidia is down -19.41% from its highApple is down -8.18% from its highAlphabet is down -10.39% from its highMicrosoft is down -8.70% from its highTesla is down -20.77% from its high
This article was written by Greg Michalowski at www.forexlive.com.
