Similar long loss streaks as now were the last time there were stock market crashes.
(Photo: Reuters)
Düsseldorf It’s historic: The market-wide leading US index S&P 500 ended in the red for the seventh week in a row. At the close of trading on Friday, there was a small plus of less than 0.1 percent, but the index fell by three percent on a weekly basis.
Things are no better for the other major indices. With the Dow Jones, the standard index for industrial stocks, it is even the eighth negative week in a row with a minus of 2.9 percent. For the technology index Nasdaq Composite, with a loss of 3.8 percent, like the S&P 500, it was the seventh week in a row with losses.
Such a dry spell is extraordinary. The S&P 500 has had only three other similar negative streaks since World War II. “It’s a small sample. But these types of streaks have not occurred in good times for the stock market,” says an analysis by Bespoke Investment Group.
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