The US market ended in the red but the Dow recovered nearly 300 points from the low point of the day. S&P 500 ended below its 200 day moving average (DMA) for the first time since mid-2016, while the NASDAQ now has turned negative for 2018.
The Facebook, Apple, Amazon, Netflix and Google parent Alphabet (FAANG) stocks got a sharp knock in yesterday’s trading session, all of them were down in trade between 2% and 5%.