Wall Street Ends Lower on Geopolitical Headwinds
Major U.S. stock benchmarks ended lower on Monday following geopolitical developments. The Dow Jones Industrial Average (DJIA) fell 374.09 points (-0.70%) to close at 53,185.90. Meanwhile, the S&P 500 dropped 25.62 points (-0.33%) to 7,686.14. The Nasdaq Composite also declined, losing 31.53 points (-0.12%) to finish at 26,370.89. Despite the daily pullback, major benchmarks still capped off another positive monthly performance.
Dow Jones Industrial Average
Dow Jones Industrial Average continued moving lower today. The bears pushed price action down, extending the recent short-term pullback. If the bearish movement continues, the index might target the lower ascending trendline for technical support. Traders will monitor this support zone closely for potential stabilization.
Ryder System, Inc. (R)
Ryder System, Inc. (R) extended its downward trajectory today. The price action traded below the daily 100 EMA ($249.09), confirming ongoing selling pressure. If downward movement continues, the stock might target the 200 EMA near the $228 to $230 support level. If share prices reach this level and manage to bottom out, traders could find an opportunity to enter long positions.