U.S. stock indices fall sharply, breaching 100- and 200-hour moving averages and signaling a near-term bearish bias.
U.S. equities extended losses overnight, with NASDAQ futures plunging over 800 points in premarket trading before a partial recovery. The NASDAQ is now down 320 points, while the S&P 500 has shed roughly 60 points, both slipping below critical 100- and 200-hour moving averages.
The S&P 500 fell to a low of 7,347 before rebounding to 7,421, remaining below its converged 100- and 200-hour averages near 7,472. The NASDAQ’s 100-hour moving average stands at 26,232.89, with the 200-hour at 26,330.56, but the index only recovered to 25,882.57.
Technical levels suggest sellers retain control unless indices reclaim these moving averages, reinforcing a bearish short-term outlook.