Global Stock Gauge Nears Oversold Zone As Selloff Deepens

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Global Stock Gauge Nears Oversold Zone As Selloff Deepens

(Bloomberg) -- A global equities benchmark has fallen precipitously close to oversold territory following a selloff in risk assets this month. The MSCI All Country World Index’s 14-day relative strength index dropped below 33 on Tuesday to levels last seen in October. A reading of 30 or below indicates a possible reversal in the market’s momentum as the selling may have been be overdone. The gauge has lost nearly 4% in April, on track for the fi…