The major US stock indices are closing sharply lower on the day. The declines are led by the NASDAQ index which fell over 2%. Technically, all three major indices moved and closed below their 200 day moving averages.
The final numbers are showing:
- Dow Industrial Average -543.56 points or -1.66% at 32254.85. It's 200 day moving average comes in at 32392.21. The close is the lowest since November 2022
- S&P index fell -73.67 points or -1.85% at 3918.33. For the S&P it moved and closed below both its 100 and 200 day moving averages today. They are both near 3942. The prices traded to the lowest level since January 20. The next target is the January 19 below at 3885.54. The S&P index closed 2022 at 3839.85. That level is around 2% from the current level.
S&P index is around 2% from its 2022 closing level
- NASDAQ index of fell -237.66 points or -2.05% at 11338.34. The NASDAQ index fell and closed below its 200 day moving average at 11403.78. The next target is the swing low from March 2 at 11273.61. They moved below that level would have traders targeting the 100 day moving average at 11128.44. The NASDAQ index has outperformed the other indices in 2023. The price would have to go to 10466.48 to reach its 2022 close level (-7.51% from current levels).
