FTSE 100, DAX 40 falter as S&P 500 remains close to record high
FTSE 100, DAX 40 falter amid US tariff threats as S&P 500 remains close to record high.
FTSE 100 remains under pressure
The FTSE 100 comes further off last week's 8,836 record high and trades in three-week lows amid US tariff concerns.
A slip through Wednesday's 8,676 low may put the 24 January high at 8,587 on the cards.
Friday and Monday's lows at 8,702-to-8,705 currently act as resistance. If they and Thursday's 8,708 intraday high were to be bettered, the 13 February low at 8,730 may be revisited.
DAX 40 hovers above 400-point drop low
The DAX 40 index took a 400-point hit on Wednesday following US President Trump's threat of a 25% tariff on all US automobiles, semiconductors, pharmaceuticals and lumber imports concerned investors.
As long as the index remains above Wednesday's 22,368 low, a bounce towards the mid-February high at 22,628 may be at hand.
Failure at 22,368 may lead to a more substantial sell-off to the January-to-February uptrend line at 22,020.
S&P 500 remains close to record high
The S&P 500 remains close to its all-time high made on Wednesday at 6,147. If overcome, the 6,200 region would be next in line.
Minor support below the 6,118 late January high is seen between the 7 February high at 6,100 and the 18 February low at 6,099.
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