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According to Reuters, the week saw a 2.7 per cent fall - which is the most significant decline since July 2010.
James Hyerczyk, an analyst at Autochartist, claimed traders can look for a possible rally to 5,919.78 as such a breakout could push the index to 5,951.11 to 5,987.61.
"The lingering question is how far will the market retrace to the upside before fresh selling pressure arrives to drive the market lower," he was quoted by the news source as saying.
Additionally, the Japanese Nikkei lost 6.2 per cent in the midst of the nation's current efforts to prevent a nuclear catastrophe after the earthquake, while the dollar rallies from significant lows versus the yen as a result of the disaster.
Last week, the news source reported that the pound sank to a three-week low against the dollar on Friday, with sterling moving down to $1.5980.
Posted by Chris Weaver
