Dear readers, the US stocks markets closed significantly lower yesterday.
Dow Jones: -2.25%
S&P 500: -2.78%
NASDAQ: -4.11%
It looks like the US stocks markets have corrected. But the showing of the US stocks was of little surprise to me since I have been longer expected this.
Over at the Singapore stocks markets, the Straits Times Index (STI) which closed at 2,504.76 should be able to break the near-term support of 2,500 in today’s trading session. I have a near-term support of 2,400 for the STI with an all-out correction of 2,000 in the eventuality of a stocks markets melt down
Even with yesterday’s US stock markets correction, it seem to me that the US stocks markets are still trading high on the back of Covid-19 and gloomy global economical outlook. Hence, there is scope for more corrections to come for the US stocks markets. And this will mean more correction for largely price-taker Singapore stocks markets.
That’s it for my insights today. I Thank you once again for your support of SG STOCKS INVESTING, your Money and Lifestyle magazine! Connect with me here to follow the daily exciting and useful posts on these two blogs, Thank You for your support!
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