FTSE 100, DAX and S&P 500 all deep in the red
The sell-off has gathered pace once more, resulting in steep losses for European markets and US futures going ‘limit down’ this morning.
FTSE 100 heads back to mid-2016 lows
Another gap down sees the FTSE 100 drop back below 6000, losing all ground gained since June 2016. Below 5894, the price heads towards 5727 and then 5490.
The consolidation of early March has now given way to more downside, with sellers firmly in control. A more bullish view would require a move back above 6200, although this would still need the price to close the gap by moving above 6400.
DAX slumps to lowest in over a year
For the DAX, all the gains since January 2019 have now disappeared, and 10,200 is now the next level to watch, the low from December 2018.
Some more support at 9966 is possible but below this 9160 and 8700 are the next lows to look for. If the index moves above 11,266 then a more positive view might emerge, but the more likely outcome is that brief rebounds become further selling opportunities.
S&P 500 turns lower as oil price war intensifies
We have an answer to the question of whether the February sell-off for the S&P 500 would resolve higher (like August 2019) or lower (as it did in October/November 2018).
One area of support may be 2820, while below this 2730 is the next zone to watch for, the low from May 2019. Rallies over the past week faltered at 3100, providing a clear upside target to watch in the event of any bigger move higher.
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.