US100 drops to 13.000 pts!

US100 declines 1.4% and tests major support

Global equity markets are trading lower today, being pressured by poor performance of tech stocks. Tech US100 is the worst performing US index as it drops 1.4% while small-cap US2000 declines 1.1%.

Later in the day, investors’ attention will focus on Federal Reserve Chairman Jerome Powell’s congressional testimony on the Semiannual Monetary Report (3:00 pm GMT). Central banker is likely to be questioned about his opinion on fiscal stimulus but markets will look out for comments on recent increase in US yields.