Key Takeaways
- Markets Hoping To Break Losing Streak
- Higher Interest Rates May Be Here Longer Than Initially Thought
- Lackluster IPO Market
Heading into Friday, stocks are hoping to snap a three day losing streak. The threat of interest rates remaining elevated for a longer than expected period of time combined with increasing risk of a government shutdown is taking its toll. On Thursday, the S&P 500 closed down 1.6% with all eleven sectors finishing in the red. The Nasdaq Composite, which is on pace for its worst week since March, was down 1.8% and is down 3.5% since last Friday. Both the S&P 500 and Nasdaq Composite are looking at the first consecutive monthly declines since September of last year and the worst month since December.
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