S&P futures breach market plunge low
S&P 500 index June futures contracts fell on Friday below 1,060, the lowest level hit during the still unexplained market plunge on May 6, which some analysts see as technical support level.
Failing to bounce from support levels can trigger further selling.
S&P 500 futures fell 10.6 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures dropped 101 points and Nasdaq 100 futures lost 22.75 points.
Stock index futures fell as the recent sell-off stemming from the euro-zone debt crisis and financial regulation in the United States pummeled investor confidence, causing a flight from riskier assets.
(Reporting by Rodrigo Campos; Editing by Padraic Cassidy)
© Copyright Thomson Reuters 2024. All rights reserved.