In a report on Monday we highlighted a more negative tone and threat for the US yardstick index, the S&P 500, but also for global equity markets and averages.
This was in the wake of President Trump’s comments on Sunday 5th May, concerning further tariffs on Chinese goods, but also negative moves after the Wednesday 1st May FOMC statement, being less dovish than markets had anticipated.
The further plunge lower into midweek from ongoing fears that the US-Sino trade talks are unravelling has caused some of the major averages to signal intermediate-term topping patterns, possibly leaving markets capped for May (and maybe beyond).
Here we spotlight the European benchmark index, the EURO STOXX 50 and the broad, US flagship average, the S&P 500.
See the full article here: https://www.fxexplained.co.uk/forex-articles/current-market-analysis/global-equities-plunge-again-for-intermediate-term-tops/