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S&P 500 slips below key chart level as yields, oil and dollar rise
The week of stock weakness followed disappointing earnings from Alphabet and Tesla, adding pressure to big tech and the AI trade.
Treasury yields, oil prices, and the U.S. dollar have each logged technical breakouts, a combination that MarketWatch says is raising a warning for stocks after the S&P 500 broke below a key short term technical level.
MarketWatch notes that although there was some stabilization on Friday, the broader setup is worrying some chart watchers who view the three market moves as potential headwinds for equities.
The outlet also points to company specific pressure, citing disappointing earnings reports from Alphabet and Tesla as weighing on big tech and the artificial intelligence trade.
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