The global stock gauge is approaching the oversold zone as the sell-off deepens

(Bloomberg) — A global stock benchmark suddenly fell near oversold territory after a sell-off in risky assets this month.

Most read from Bloomberg

The MSCI All Country World Index’s 14-day relative strength index fell below 33 on Tuesday, to levels last seen in October. A reading of 30 or lower indicates a possible reversal in market momentum, as selling may have been overdone.

The index fell nearly 4% in April, on track for its first monthly decline since October, as easing Federal Reserve easing and escalating conflict in the Middle East sapped equities’ appeal.

Read more: Stocks look more vulnerable in Asia than peers to Fed repricing

Most read from Bloomberg Businessweek

©2024 BloombergLP