Global market crash: The stock markets in Asia and Europe crashed on Monday 7 April, because the concern of investors increases over a possible global recession due to the rates of Donald Trump, who escalate the trade war between the United States and other world countries.
Without signs of de-escalation of the most important economies in the world, the stock indices witnesses high investors who are selling pressure while switching to less risky assets during a potential prospective economic crisis.
“The Dow Jones fell more than 5% last week and break the neckline of a weekly double top at 41,647, which causes a rapid free fall. With a decrease of 15% for nine weeks, the index is now in a highly transferred area,” said Anshul Jain, the head of research at Lakshmishree Investment and Securities.
“A Sharp Dead Cat breakdown is likely if the index wipes at 38,264 last week last week. If the sale continues and the index remains under 38,264, the following Neerwaartse Doel comes in accordance with the 50-months EMA in the vicinity of 36,000-a critical support zone,” he said.
(This is a developing story. Come back for updates.)
