A barrage of worrisome news is rocking the U.S. stock market after a nearly six-month surge, leading some investors to question whether the recent selloff in equities heralds a longer period of volatility.
The rapid selloff has occurred amid fading hopes of further coronavirus-related fiscal stimulus from Congress, looming political uncertainty over the U.S. presidential election and fears of a COVID-19 resurgence in the fall. "The lack of stimulus, the uptick in coronavirus cases, the tension coming out of D.C. overall lends to an environment that is going to be a little bit harder for stocks to remain relatively sanguine through," Delwiche said.
The S&P 500 technology sector had fallen 12.8per cent from the market's Sept. 2 high as of Wednesday, while Amazon and Netflix each had declined about 15per cent over that time. S&P 500 with and without tech in 2020: https://fingfx.thomsonreuters.com/gfx/mkt/gjnvwjjojpw/Pastedper cent20imageper cent201600965267148.png
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