US markets continued their weak start to the year with more heavy falls on Friday with the Nasdaq 100 posting its lowest weekly close since June last year, and its worst weekly loss since February 2020, as well as closing below its 200-day MA for the first time since June 2020.
Friday’s losses also saw the S&P500 follow a similar path also falling below its 200-day MA, as well as below its December lows in the process.
Investors appear to be spooked by several things, with weak company guidance only part of the story.
For a start, the shift in tone from central banks would appear to suggest that they have belatedly started to become more concerned about how recent price surges might become more embedded than was thought to be the case only a few weeks ago. It’s not hard to see why when you look at inflation levels that are now at levels last seen in the 1980’s and 1990’s
We also have the added complication of a much more perilous geopolitical backdrop caused by escalating tensions on the Russia, Ukraine border. On Friday markets…
