The S&P, NASDAQ and Dow have worst day since May 21

The S&P, Nasdaq and Dow had their worst day since May 21 as geopolitical risk from Israel’s strike on Iran, and Iran’s counterstrike on Isreal gave traders a reason to sell.

At the close, the major indices are all down by -1.13% or more. A look at the final numbers shows:

• Dow Industrial Average fell -769.83 points or -1.79% at 42197.79. The price is closing below its 200-day moving average at 42502.38, and its 100-day moving average at 42233.09.
• S&P index fell -68.29 points or -1.13% at 5976.97. The S&P tested but held support against its 100-hour moving average at 5964.44. The low price today reached 5963.21, just below that level but bounced modestly into the close.
• NASDAQ index-255.66 or -1.30% at 19406.83. Like the S&P, the index tested its rising 100-hour moving average at 19390.24. The low price extended to 19367.42 but closed above that moving average level.

For the trading week, the major indices are closing lower with today’s the declines:

• Dow Industrial Average fell -1.32%
• S&P index fell -0.39%
• Nasdaq index fell -0.63%

This article was written by Greg Michalowski at www.forexlive.com.