Dow, Nasdaq 100 and Nikkei 225 return to September lows as global slump continues
There has been no let-up in the selling in indices, which have touched lows last seen in September last year.
Wall Street continues to slump
The Wall Street index hit its lowest level since late September yesterday, and revisited it overnight, as the sellers continued to drive US markets lower.
It is now some 3000 points off the February record high, and for the moment there seems no end to the selling. Intraday rallies have merely been fuel for more selling, and this looks set to continue for the time being.
Last night's low was also the high from late August, which may provide some support, while further declines may well open the way to 40,220, the early September low.
Wall Street daily chart
US Tech 100 at six-month low
It is a similar picture here, as this index also reaches a six-month low. It was the worst day for the US Tech 100 since 2022.
September's low at 18,320 is the next target. For the moment there is no sign of a low being formed. Even a short-term bounce of a few days may be only a pause before another drop. Having fallen below its 200-day SMA, the index is now in different territory to last year.
US Tech 100 daily chart
Japan 225 hits 36,000
This Japan 225 index touched 36,000 for the first time since September overnight.
While it has bounced from this level, it has yet to even test the recent run of lower intraday highs. A close back above 37,000 might provide some hope of a short-term bounce, but previous support at 38,000 may provide resistance.
Japan 225 daily chart
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. Please see important Research Disclaimer.
Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.
Take a position on indices
Deal on the world’s major stock indices today.
- Trade the lowest Wall Street spreads on the market
- 1-point spread on the FTSE 100 and Germany 40
- The only provider to offer 24-hour pricing
Live prices on most popular markets
- Forex
- Shares
- Indices
See more forex live prices
See more shares live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
See more indices live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.
