Major US stock indices moved lower today as investors continued to weigh rising global yields, geopolitical uncertainty in the Middle East, and concerns that higher energy prices could keep inflation pressures elevated. The declines were led by technology and small-cap stocks, with the NASDAQ index falling -0.84% and the Russell 2000 dropping -1.01%. The broader S&P 500 declined -0.67%, while the Dow Jones Industrial Average closed down -0.65% as sellers maintained control for most of the trading session.
From a technical perspective, the NASDAQ index managed to find support near its 100-hour moving average both earlier in the day and again into the close. That key moving average level comes in at 25,800.58 and remains an important short-term barometer for traders. A sustained move below that level, along with a break under the nearby swing area near 25,701, would tilt the short-term bias more toward the downside.
The S&P 500 is also trying to hold above its own 100-hour moving average, currently at 7344.90, after closing at 7353.62.
Within the Dow 30, Verizon was the day’s biggest gainer, while Cisco lagged as the biggest decliner. The top five winners and losers are outlined below:
Looking at some of the broader market winners and losers showed Shake Shack bouncing off of the lowest level going back to 2023. The stock gained by 7.38% today.
Meanwhile, Chewy and Roblox were the laggards in trading today.
