S&P 500 Index Losses On Trump Policy Worries .The S&P 500 index dropped 38.10 points or 1.5% to 2430.01 on Trump policy worries and Barcelona terror attack which at least killed 13 people.
Trump Policy Worries:
Washington’s mounting woes S&P to biggest loss in three months. Investors appeared to be losing faith in the Trump’s Administration. About its ability to move foreword with tax cuts and the rest of its Domestic Economic Agenda. The latest Cause for concern was speculation over the possible departure NEC Director Gary Cohn.
Barcelona Terror Attack:
The market also remained on edge after a van crashed dozens of people in the centre of Barcelona on Thursday. And Spanish media, citing police sources, said at least 13 people were killed. Catalan’s police said the van crash is being treated as a terror attack.
S&P 500 Daily Analysis:
S&P 500 index posts biggest Daily drop in 3 months due to Trump Policy worries and Barcelona terror attack. Yesterday the S&P 500 index opened gap down 2462.95 and sold of heavily through the day. Tractor Supply gained over 2 percent and Century Link losses over 7 percent.
As S&P 500 index is trading in downward impulsive 3rd wave or “c” wave . So the fall must be fast and furious. No one can predict how long it can extend. Hence trailing stop loss is the best way to trade. Support zones are pointed out on the technical chart.