The global market plunge continues.
On Thursday we saw the Dow give up more than 300 points, and markets around the world took the lead from the US overnight.
In Asia, Hong Kong’s Hang Seng fell 1.9%, while Japan’s Nikkei index lost more than 1%.
In Europe, stocks closed red across the board.
The DAX in Germany saw the biggest losses, falling more than 2% as Europe’s largest economy continues to teeter on the brink of recession.
Stocks trading in Paris and London also lost more than 1.2% on Friday.
The Euro Stoxx 50 lost 1.4%.
In the US, stocks opened mixed, but have turned lower, with the Dow currently down about 23 points, the S&P 500 down about 11 points, and the Nasdaq down about 55 points.
The tech-heavy Nasdaq is currently being dragged down by Tesla, which is down more than 6% after last night unveiling a new all-wheel drive vehicle, and semiconductor stocks, which are currently down more than 5% as a group 5%.
Following Thursday’s ugly day in the markets, on Friday traders are looking at a number of technical indicators, with UBS’ Art Cashin noting that if the S&P 500 breaks below 1,925, it could cascade toward 1,900 or 1,905.
In late morning trade the S&P 500 was at 1,918.
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