Draghi gives a downbeat assessment of EU and global economy
Blame it on Draghi.
The ECB slashed growth estimates for the EU economy and also gave a downbeat assessment of the global economy. As a result, the US shares are opening and trading lower.
The snapshot now is showing:
- S&P index -11.32 points or -0.41% at 2760
- NASDAQ index -40 points or -0.54% at 7465.6
- Dow industrial average -120 points or -0.47% at 25555
For the Nasdaq index, it fell back below its 200 day MA at 7480.096. Stay below is more bearish and could lead to more profit taking.
