The Dow Jones Industrial Average on Friday was set to open below a closely watched mid-term trend line as a selloff sparked by President Donald Trump’s threat to impose tariffs on aluminum and steel imports next week intensified. The Dow was set to drop by more than 200 points early Friday, given the downturn in Dow fuutures , which would put it in position to slip beneath its 100-day moving average at 24,447.83, according to FactSet data. The Dow on Thursday closed down more than 420 points at 24,608, while the S&P 500 index and the Nasdaq Composite Index also tumbled sharply lower. The Dow last broke below its 100-day MA on Feb. 9, as stock benchmarks were reeling after slipping into correction territory, typically defined as a decline of at least 10% from its recent peak on Jan. 26. The blue-chip gauge is still well above its 200-day MA at 23,077.02. Market technicians watch moving averages in order to help gauge short-term and long-term momentum in an asset.
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