6 December 2018 (8:56 am IST)
5 December 2018 (10:27 pm EST)
Highly negative U.S. stock futures have sent world stock markets tumbling down in today’s Asia session.
Dow Jones futures have been trading down with losses of more than -300 points, coming close to. -400 points loss at times.
European stock futures are also showing losses of more than -1.50%.
All major Asian stock markets are trading with deep cuts. SGX Nifty is down by nearly -100 points, indicating a big gap down opening in Indian stock markets today.
Basically, global stocks are coming back to from where they had started their false hope rallies last week. Also, since world stock markets are trading in a wide range this year, rallies form support and downtrends from resistance levels are normal behavior for stock markers inn such conditions.
Day traders may not get much to do in such conditions where markets open with deep cuts. All they can do is wait for the second half and once markets have recovered slightly, then trade with the downtrend.
Expect world stock markets to continue with this week’s downtrend and trade within previous week’s trading range.