Plunges in Stocks to Gold Halted at Key Technical Support Level
- Nasdaq 100 tumbles 4.8%, ends just above 50-day moving average
- Spot gold, West Texas, Tesla also routed Tuesday in selloff
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The volatility roiling financial markets spared few assets Tuesday, though a curious commonality emerged among the wreckage -- selling in everything from Tesla Inc. to gold and tech shares halted at their average prices over the past 50 days.
The Nasdaq 100 plunged 4.8% Tuesday to close at four-week low, two points above its 50-day moving average. Gold dipped below its short-term mean for a second day before closing above it. Tesla, down 34% in September after doubling since June, ended 58 cents over the technical level.