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7 March 2025,03:34
Trade Of The Day
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7 March 2025, 03:34
* U.S. stock markets suffered a steep selloff as worries over tariffs and doubts about AI-driven growth weighed on sentiment. The Nasdaq Composite plunged 2.6%, officially entering correction territory, while the Dow Jones fell over 400 points and the S&P 500 dropped nearly 2%. Investor uncertainty lingers over Trump’s trade policies, despite a delay in some tariffs on Mexican and Canadian goods. With markets already pressured by rising borrowing costs and inflation fears, these latest trade tensions have triggered renewed selling in risk assets.
* Technical Breakout: The Nasdaq is trending lower after breaching key support at 20,510.00, confirming a bearish shift. MACD indicates strengthening downside momentum, suggesting further weakness.
* Resistance and Support: If selling pressure persists, the index could decline toward the next support at 19,550.00. However, if bearish momentum eases, a technical rebound could occur, with 20,510.00 serving as an upside target.
A ceasefire between Russia and Ukraine or positive trade developments could provide support for equities and trigger a rebound. Investors should closely monitor these geopolitical factors.
Learn more about how to navigate the prop trading landscape by checking out PU Xtrader’s trading blogs.
Keep an eye on U.S.-China trade relations, earnings in the US tech sector, and broader equity market trends by following PU Xtrader’s financial news page.
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7 March 2025, 03:34 Nasdaq Dips Amid Tariff Concerns and AI Skepticism
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