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Nasdaq decline extends to 1%

Early trading showed some resilience in equities but that's quickly evaporated. The selling picked up after the soft US services PMI and that's interesting because it means that the bad-news-is-good-news narrative is failing. That's because the Fed appears to be determined to hike despite mounting signs of a slowdown.

Said another way, the market is growing more worried about a tougher recession.

Technically, this looks like a head-and-shoulders top with a target at 10,400, or ano... Read More

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Content Topics

Nasdaq

Decline

Extends

Forex

Posted: Dec 16 2022, 15:29

Author Name: forexlive

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