Dow struggles to stay above 200-day moving average
The Dow Jones Industrial Average on Wednesday morning was struggling to trade above its 200-day moving average, with a powerful downturn driving the index more than 2% lower in opening trade. The Dow's DJIA, -1.45% 200-day moving average stands at 25, 558.99, according to FactSet data and the blue-chip gauge was trading down 532 points, or 2%, at 25,504 in recent action.
The Dow hasn't closed below its 200-day moving average since early June. Meanwhile, the S&P 500 index SPX, -1.11% was off 1.4% at 2,840, with its 200-day moving average at 2,791.14. Wednesday's decline was sparked by growing fears that global growth was grinding to a halt as a number of central banks cut interest rates in attempt to dampen the harm cause by a Sino-American trade war.
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