FTSE 100, DAX 40 and Nasdaq 100 drop amid China growth and AI concerns
FTSE 100, DAX 40 and Nasdaq 100 drop amid China growth contraction and artificial intelligence concerns.
FTSE 100 practically revisits key support
The FTSE 100 is retreating from Friday's record high of 8587 amid renewed United States (US) tariff threats but seems to be stabilising slightly above the crucial support zone of 8419 - 8372, expected to hold firm.
Minor resistance is currently noted around last Monday's low of 8483.
FTSE 100 daily chart
DAX 40 takes a hit
The German DAX 40 index ended its six-day winning streak, which peaked at a record high of 21,529 on Friday, by quickly falling through its January support line at 21,294, which is now likely to serve as resistance. Weak growth data from China, currently in contraction, along with potential artificial intelligence (AI) threats to Big Tech, have contributed to a sharp sell-off.
Further resistance is identified at Friday's low of 21,349.
Should the current decline continue, the next target may be the 20 January high of 21,054.
DAX 40 daily chart
Nasdaq 100 sees significant drop amid China AI concerns
The Nasdaq 100 is in free fall and is gapping lower over fears of China’s cost-effective DeepSeek AI model threatening US Big Tech’s dominance in the sphere.
The previously breached December-to-January downtrend line at 21,192 might offer support due to inverse polarity. If not, there could be a further slide toward the key support area of 20,769 - 20,533.
Minor resistance lies above Monday's intraday high of 21,373, with further obstacles at the 17 January high of 21,529 and the gap high at Friday's low of 21,707.
Nasdaq 100 daily chart
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