Sunrise Market Commentary - ActionForex

Stocks steadied after Thursday’s tech-led sell-off, with the Nasdaq down only 0.2% on Friday, while the Dow Jones Industrial Average fell 1.2% as value stocks took the brunt. In the euro area, equities dropped more than 1% intraday before paring losses to 0.3% at the close. Market technicians flagged caution around S&P 500 support near 7,600 and on the SX5E as it re-entered a downward-sloping channel after confirming a break below 6,118. Energy drove rates and inflation fears: Brent jumped to a six-month high of $117, while Dutch TTF gas surged to €93.8/MWh.