Traders Hunt for Elusive Market Bottom as Tariffs Crush Stocks
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Traders are looking for a US stock-market bottom after the biggest four-day rout in five years, but key technical indicators suggest more pain is ahead.
Stocks are the most oversold since the depths of the pandemic, conditions that briefly lifted the S&P 500 Index by as much as 4% higher Tuesday. But the US equity benchmark erased its gains to end the session 1.6% lower at about 4,983 — teetering on the brink of a bear market — amid mounting trade tensions between the US and China. The volatility has traders scouring their charts for more guidance.