Skip to main content

Nasdaq 100 leads Wall Street losses as Fed minutes confuse

As covered in an update here yesterday evening, the release of the December FOMC meeting minutes cast doubts on the post meeting rhetoric from the Fed boss, Jerome Powell. Initially these minutes sent stocks and bonds reeling. The Bond market did soon recover and that surely stopped the dollar from tumbling. However, it did not come to the assistance of the stock markets. So, the losses  extended and were once again led by the tech sector and the Nasdaq 100. The index eventually fell to a low at 16,352 and it did not close much above that low either, ending the session at 16,368, with a loss of 175 points on the day. The Nasdaq 100 was once again the worst performing major US stock market in percentage terms. That close was also some way below its 21 day moving average, That was in place at 16,474 and had successfully capped the earlier high of the day, which was set at 16,471. Overnight the Nasdaq 100 futures have make some modest progress, even with Asian stocks mostly in the red so far. There will be more to add on this as the day unfolds, but right now the index future is pricing the reopening at around 16,380 
 

Ready to Get Started?

Start here. Join 2.9M Libertex users around the world!