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FTSE 100, Nasdaq 100 and S&P 500 drop​

FTSE 100, Nasdaq 100 and S&P 500 drop​ amid intensifying US/China trade war.​

Written by

Axel Rudolph

Axel Rudolph

Market Analyst

Article publication date:
Indices Source: Adobe images

​​​FTSE 100 dragged down by US trade war escalation 

​The FTSE 100's swift recovery from its over one-year low at 7,533 took it to 8,265 on Tuesday before US President Trump imposed new restrictions on Nvidia.  

​The 8,265 high is likely to cap on Wednesday but, if bettered, would leave the way open for the 200-day simple moving average (SMA) at 8,342 to be reached. 

​Last week's high at 8,178 acts as minor support. Below it lie Friday's high and Tuesday's low at 8,116.

FTSE 100 chart Source: IT-Finance.com

​Nasdaq 100 dragged down by Nvidia sell-off 

​The Nasdaq 100 is on track for its second straight day of losses amid the intensifying trade war between the US and China. 

​Minor support can be found between the 7 and 8 April highs and Friday's low at 18,221-to-18,137. 

​Resistance above the February-to-April downtrend line at 19,060 can be spotted at Monday's 19,117 high, above which lies last week's high at 19,249.

Nasdaq 100 chart Source: IT-Finance.com

​S&P 500 drops amid intensifying US/China trade war 

​The S&P 500's strong recovery from its near 16-month Monday low at 4,809 has taken it to last week's 5,493 high which the index tried to revisit by rising to 5,463 on Monday.  

​Since then, the S&P 500 has been sliding once more. Potential support come in between the 7 and 8 April highs as well as the 11 April low at 5,269-to-5,219.

S&P 500 chart Source: IT-Finance.com

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