Geopolitical tensions are having a significant impact on global stock markets, undoing recent gains in European and US indices. Recent strikes by Ukraine on Russian targets, made possible by US-supplied missiles, have elicited a strong response from Moscow. As a result, Moscow has updated its nuclear doctrine to allow for potential nuclear responses to conventional attacks.

The NASDAQ 100 has experienced limited losses, with the index stalling after a brief recovery. The critical support level to watch is around 20,300. If the index closes below this level, it could indicate a decline towards the pre-election low of 20,000. On the other hand, if it maintains above this level, it may suggest a potential recovery.

The Dow Jones is continuing its decline after the election, dropping below 43,000 in pre-open trading. If weakness persists, the index may target the pre-election low of 42,000. However, if it recovers above 43,300, it could indicate a stabilization in the market.

Meanwhile, the DAX 40 is still on a downward trend. A close below 19,000 could lead to further losses towards the September low of 18,250. However, if it rebounds above 19,000, it could signal renewed buying interest.