Dow Tumbles 600 Points as Geopolitical Tensions Rise
U.S. stock indices dropped sharply during the session as geopolitical concerns stemming from rising Middle East tensions weighed on market sentiment, causing selling pressure to broaden across non-tech sectors. The DJIA tumbled 646.06 points (-1.22%) to trade near 52,221.92. Meanwhile, the S&P 500 fell 36.80 points (-0.48%) to 7,626.63, and the Nasdaq Composite slipped 29.723 points (-0.11%) to settle around 25,979.136.
Dow Jones Industrial Average
The Dow Jones Industrial Average dropped after moving near its upper trendline resistance. If the current bearish momentum continues, the index will test its daily EMA 100 ($51,783.75) as immediate technical support. On the lower side, the daily EMA 200 ($50,571.04) and the major white ascending trendline serve as key structural supports and crucial downside targets for traders to watch.
The TJX Companies, Inc. (TJX)
Shares of The TJX Companies, Inc. (TJX) have retraced following a previous breakdown, with the pullback reaching the key breakout level around $145.00. Share prices are currently hovering near a cluster of technical resistance levels, including its daily EMA 100 ($144.07), daily EMA 200 ($146.34), and descending trendline. If a clear bearish rejection occurs around this confluence zone, traders could expect a bearish continuation targeting the previous swing low.