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The bleeding continues after a terrible period last week, which saw major indices in Europe wipe out their year-to-date gains in just a matter of days. That even after having hit fresh record highs in the week before the US-Iran conflict starting up. Here’s a snapshot for the day and how it all factors in since the war started:Germany DAX -2.4% (-9.1% since 27 Feb)France CAC 40 -2.4% (-9.1% since 27 Feb)Spain IBEX -2.5% (-9.5% since 27 Feb)Italy FTSE MIB -2.5% (-8.8% since 27 Feb)That is a lot of pain to deal with in a short span of time. The chart for French stocks looks to be one that is taking an escalator up before the elevator down:The drop since the end of February now brings the French benchmark index to its lowest since September last year. That after having shown much resilience in brushing off political concerns and fiscal risks towards the end of last year. Now, everything is just being reset.It’s not as bad for the other major indices on the charts. However, it is worth keeping an eye out for German stocks next. The DAX index looks like it might be on the verge of breaking down. And if that happens, it could start to trigger even more pain in stocks across Europe as investors have to dig deep in trying to ride out the Middle East conflict.The key line in the sand is that 23,000 level at the moment. If that breaks more meaningfully, it will be tough to pick at support levels next for German stocks.That especially since the surge in oil and gas prices is weighing across multiple sectors, stretching from airlines to autos, and even the likes of financials and chemicals/manufacturing.
This article was written by Justin Low at investinglive.com.
💡 DMK Insight
The recent sell-off in European indices is a wake-up call for traders: volatility is back. After erasing year-to-date gains in just days, this sharp downturn signals a potential shift in market sentiment, especially as geopolitical tensions rise. Traders should be wary of the ripple effects on correlated assets, particularly in commodities and currencies that are sensitive to global stability. If the indices continue to slide, we might see increased volatility in the forex market, particularly with the euro and pound, as investors seek safe havens. Keep an eye on key support levels; a break below these could trigger further selling pressure. But here’s the flip side: if markets stabilize, there might be a strong rebound opportunity for those looking to buy the dip. Watch for any signs of recovery in the coming days, especially if indices can reclaim recent highs. The real story is how traders react to these geopolitical developments—monitor sentiment closely, as it could dictate the next moves across multiple markets.
📮 Takeaway
Watch for key support levels in European indices; a break could lead to further volatility in forex and commodities.
