By Chris Becker
The plunge in Facebook shares overshadowed the ECB meeting and Trump’s continual backtracking on his trade war with the continent. The fall – possibly indicating the peak for social media – took 1% off the NASDAQ, but European stocks made good on the ECBs insistence of continued interest rate weakness.
Recapping Asia’s session yesterday where the Shanghai Composite gave back most of its recent breakout to finish 0.8% lower at 2879 points, getting back below recent resistance above 2900 points. There is potential upside here back to 3000 points but this still remains dangerous territory amid a bear market phase:
