S&P 500 Falls for Ninth Session in Longest Losing Streak Since 1980
Source: The Wall Street Journal.
S&P 500 Falls for Ninth Session in Longest Losing Streak Since 1980
After a late afternoon slump, U.S. stocks end lower
By Corrie Driebusch and Riva Gold
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Updated Nov. 4, 2016 4:14 p.m. ET
A late afternoon slump dragged the S&P 500 to its ninth consecutive decline, its longest losing streak in nearly 36 years.
October employment data signaling solid momentum in the labor market and a bounceback in biotechnology shares had buoyed stocks for most of Friday’s trading session. Ultimately, however, caution prevailed in the final hour of trading. The tight U.S. presidential election has dragged down stocks and pushed up Wall Street’s “fear gauge” since early last week.
The S&P 500 declined 3.5 points, or 0.2%, to 2085, putting its nine-day decline at roughly 3%. The last time the S&P 500 index fell for nine days in a row was the period ending Dec. 11, 1980—when it lost 9.4%. ... The Dow Jones Industrial Average and the Nasdaq Composite both declined 0.2% on Friday.
The election has unnerved many investors, causing them to either sit on the sidelines or move to products they perceive as less risky, such as gold or shorter-duration bonds, as polls have tightened between the candidates.
Read more: http://www.wsj.com/articles/european-asian-stocks-follow-s-p-500-lower-1478248853
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