Dow and DAX pressured by tariff news
Fresh tariff announcements, this time on cars, caused global indices to lose ground yesterday.
Dow
The Dow Jones index reversed course yesterday on news of more tariffs, though the price held above the opening gap from Sunday night. Sellers will want to see a follow through below 42,000 to bolster the view that a lower high has formed. This might then put the price on course to test 41,000 once more. Alternately, a move back above 42,700 could see buyers regain the initiative.
DAX
News of tariffs on cars dealt the DAX 40 a blow yesterday, causing it to briefly touch a two-week low. Both buyers and sellers will be watching to see if the selling persists into today’s session. However, the uptrend is still intact, so for the moment we are looking for a pullback towards a higher low.
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