It’s another turbulent day for Wall Street, as the S&P 500 — the broadest measure of the US stock market — is on track for its fourth straight week of losses.
Stocks opened mixed on Friday. The Dow fell 0.5%, or 128 points, and the S&P dipped 0.3%. The S&P is also teetering on the brink of correction territory, defined as a 10% drop from the peak, and is on track for its worst losing streak since August last year.
The Nasdaq Composite opened in the green, climbing a modest 0.1%.
Market dynamics are all over the place these days. The presidential election is less than six weeks away and uncertainty about the outcome — and when the outcome will be known — is increasingly weighing on stocks. On top of that, the economic recovery is showing signs of slowing, but Washington has so far been unable to agree another stimulus package.
US-China tensions, which have overshadowed the market regularly for years now, are also on the rise again.
In the weeks to come, earnings season for the third quarter of the year will also get under way, so there’s plenty to keep investors busy.
The message is clear: volatility isn’t going away any time soon.
