The FTSE 100 has dropped below its key support level of 8,183 to 8,153, falling below the 200-day simple moving average at 8,104 to 8,070. This decline follows the UK budget announcement and brings the index close to the late July low of 8,056.

Analysts suggest that if this level is breached before the US non-farm payrolls, the psychological barrier of 8,000 could be the next target. Resistance is now identified within the previous support zone at 8,153 to 8,196.

Meanwhile, the DAX 40 has seen three consecutive days of declines, sliding almost 3% from its weekly high. The next downside target is the early October low at 18,909, with a daily close below this level potentially confirming a top formation and targeting the late July high at 18,580. Minor resistance is noted at the 23 October low of 19,301.

The NASDAQ 100 has reached a three-week low of 19,877 after a rapid bearish reversal from Tuesday's high of 20,652. The index has broken the August-to-October uptrend line at 20,035, which now acts as resistance. If it falls below the early October low of 19,611, a bearish trend reversal could be confirmed. Resistance above the broken uptrend line is seen at the late September high of 20,316.