Market U-turn or a bump in the road down?
Stock markets returned sharply to growth on Tuesday afternoon, following shares in technology companies. A significant 20% jump in Tesla shares and a 4% rise in Apple and Amazon pulled the Nasdaq up 3.7%.
The currency market also saw a reversal in the dollar’s downward trajectory. The DXY index is down 0.3% to 92.10 after touching a 3.5-month high.
Other sectors have also seen a reversal in the recent momentum. Gold returned above $1710, rebounding from a 9-month low at $1680. On the other hand, crude oil declined for the third day.
However, traders should remain cautious as the market performance yesterday may be nothing more than a brief bump in a trend formed about a month ago.
https://fxpro.news/market-snapshots/market-u-turn-or-a-bump-in-the-road-down-20210310/
