On Thursday morning, global markets’ attempt to bounce back was unsuccessful, but later, in the afternoon, selling once again picked up. U.S. stocks lost 1.5% on average and the NASDAQ Index lost 2.1% of market capitalization against the background of a notable drop for Apple shares. Once again, among the sectors that were outsiders were industrial company stocks, while those of commodity companies outperformed stocks from the financial sector and industries focused on the U.S. economy. Such an unusual spread indicates the absence of a unified idea guiding most players.
In general, after futures on the S&P 500 broke the support level at 1,340 points, the next target for the markets has become a mini-range of 1,290-1,300 points. Therefore, the achievement of these levels after another unsuccessful attempt to rebound seems logical. In a sense, it is no less natural that the achievement of technical targets for global markets ended in panic, which is also often followed by a period of calm, though perhaps this will only be a temporary lull before a new round of turbulence.
