13 November 2018 (8:37 AM IST)
12 November 2018 (10:07 PM EST)
World stock markets have turned highly negative as big tech stocks witnessed return of their previous sell off inn U.S. stock markets’ overnight session. Shares of Apple fell by -5% after reports about its reduced second quarter outlook and large cut down in shipment orders.
Dow Jones lost -600 points, Nasdaq was closed down by more than -200 points. As a result, Asian stock markets are also trading highly negative in their early trading hours. Nikkei (Japan) is down by more than -700 points. Other major Asian markets are also suffering heavy losses. SGX Nifty is down by nearly -50 points, indicating a lower opening in Indian stock markets too.
U.S. stock futures are still thinly negative, not shown any signs of a recovery in early trading. European futures are also negative after a big drop in previous session triggered by the crash in U.S. stock markets.
Expect world stock markets to trade with choppiness and remain under pressure. U.S. stock futures could stage some technical recovery but a surging dollar could add to the pressure and volatility in smaller currencies and their stock markets.
Day traders should follow the trend in their local index. Right now, the previous low trend seems to have returned in global stocks and selling at high could be a better trading strategy.