- Home
- Analytics
- Market News
- Market Overview
- Another Bearish Session for Stocks
Market Overview
Another Bearish Session for Stocks
Stocks worldwide plunged on Tuesday and EU indices were
trading at this year’s lows, while the US benchmarks dropped closer to October’
lows. The DAX index was down 1.2% during the London session, while the SP500
benchmark lost 1.5% shortly after the US opening bell and the Nasdaq was down
another 2% to trade at 7-month lows.
Sentiment worsened further on Tuesday as FAANG stocks
continued their demise, which dragged the entire stock market down.
From the macro data point of view, US building permits rose
slightly from 1.241 million annually to 1.263 million annually, while housing
starts jumped more than 6% from 1.21 million to 1.228 million. The homebuilders
sector is one of the worst performing sectors this year amid rising mortgage
rates.
US yields followed stocks lower as the risk-off sentiment usually
benefits US bonds, which pushes their yields down. The greenback also surged
today and the dollar index has managed to defend the bullish trend line for
now.
Copper is now trying to breach from the big consolidation
triangle to the upside, which could be a positive signal for inflation outlook,
but also for cyclical stocks and therefore this commodity should be closely
watched over the next days.
Disclaimer:
Analysis
and opinions provided herein are intended solely for informational and
educational purposes and don't represent a recommendation or an investment
advice by TeleTrade. Indiscriminate reliance on illustrative or informational
materials may lead to losses.
TeleTrade EU is a multi-award-winning, EU licensed and regulated Cyprus Investment Firm.
Risk Warning: Trading Forex and CFDs on margin carries a high level of risk and may not be suitable for all investors. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69.66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Prior to trading, you should take into consideration your level of experience and financial situation. TeleTrade strives to provide you with all the necessary information and protective measures, but, if the risks seem still unclear to you, please seek independent advice.
© 2011-2023 TeleTrade-DJ International Consulting Ltd
This website is operated by Teletrade-DJ International Consulting Ltd, which is registered as a Cyprus Investment Firm (CIF) under registration number HE272810 and is licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 158/11. Teletrade-DJ International Consulting Ltd is located at 88, Arch. Makarios Avenue, 2nd floor, Nicosia Cyprus.
The company operates in accordance with the Markets in Financial Instruments Directive (MiFID).
The content on this website is for information purposes only. All the services and information provided have been obtained from sources deemed to be reliable. Teletrade-DJ International Consulting Ltd ("TeleTrade") and/or any third-party information providers provide the services and information without warranty of any kind. By using this information and services you agree that under no circumstances shall TeleTrade have any liability to any person or entity for any loss or damage in whole or part caused by reliance on such information and services.
TeleTrade cooperates exclusively with regulated financial institutions for the safekeeping of clients' funds. Please see the entire list of banks and payment service providers entrusted with the handling of clients' funds.
Please read our full Terms of Use.
To maximise our visitors' browsing experience, TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies.
Teletrade-DJ International Consulting Ltd currently provides its services on a cross-border basis, within EEA states (except Belgium) under the MiFID passporting regime, and in selected 3rd countries. TeleTrade does not provide its services to residents or nationals of the USA.
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69.66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
