S&P 500, Dow extend longest losing spree in a year

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The S&P 500 and the Dow inched lower on Friday, extending their longest losing spree in a year as fears about the outlook for the economy in a future still dominated by the coronavirus weighed on investor sentiment.

FILE PHOTO: Traders wearing masks work, on the first day of in person trading since the closure during the outbreak of the coronavirus disease on the floor at the New York Stock Exchange in New York, U.S., May 26, 2020. REUTERS/Brendan McDermidputting them on course for one of their worst weeks since the coronavirus-driven crash in March.

“There’s evidence of a slowdown in the United States, which we think is temporary, but it would be reinforced if there is no additional fiscal package,” said Sebastien Galy, senior macro strategist at Nordea Asset Management in Luxembourg. The S&P 500 is on course for its fourth straight weekly decline - its longest losing streak since August 2019 - and is hovering just above correction territory with investors oscillating between beaten-down technology-related shares and value-linked sectors such as industrials.

 

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“Winning”

Life is ephemeral, sadly. And this alone, what so many were able to handled it, is already a failure.

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