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 AI concerns.
FTSE 100 practically revisits key support
The FTSE 100 is swiftly coming off Friday's 's record high at 8,587 amid renewed US tariff threats but seems to be finding support marginally above its key 8,419-to-8,372 support zone. This is expected to hold.
Minor resistance is now seen around last Monday's 8,483 low.
DAX 40 takes a hit
The German DAX 40 index ended its six consecutive days of gains streak and advance to a new record high at 21,529 on Friday by swiftly falling through its January support line at 21,294 which should now act as resistance. Weak China growth data, now in contraction territory, and potential artificial intelligence (AI) threats to Big Tech have led to a sharp sell-off.
Further resistance sits at Friday's 21,349 low.
Were the current descent to continue, the 20 January high at 21,054 may be reached next.
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 breached December-to-January downtrend line at 21,192 may, because of inverse polarity, act as support, though. If not, a slide towards the key 20,769-to-20,533 support area may be on the cards.
Minor resistance above Monday's intraday high at 21,373 is seen at the 17 January high at 21,529 ahead of the gap high at Friday's 21,707 low.
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