The Dow and other indicators fall again 1:07
(CNN Business) ––
The stock market sell-off has put the Dow Jones Industrial Average close to completing its longest weekly losing streak in nearly a century.
After opening the day higher, the Dow reversed course and fell about 270 points, or 0.9%, in recent trading.
The index has plunged nearly 4% so far this week.
The Dow Jones index, data, history and its main records
If the Dow ends the week lower, which it is solidly headed for, this would be its eighth straight weekly loss.
And so it would complete the longest weekly losing streak since 1923, according to FactSet data reviewed by LPL Financial.
The long losing streak underscores the negative mood on Wall Street, as concerns about high inflation grow among investors.
Also, for what the Federal Reserve will have to do to control prices.
The Dow loses 1,000 points.
The stock market is practically asking for a penalty
For its part, the broader S&P 500 is approaching its seventh consecutive weekly loss, which would be the longest decline since March 2001, according to Bespoke Investment Group.
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"From inflation to a hard-line Fed, war, supply chain issues, China's lockdown and a slowing economy, there are many reasons stocks have done so poorly recently," he said. Ryan Detrick of LPL Financial in an email.
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Detrick added that the silver lining is that history suggests the stock is oversold.
"If we get some good news, there is likely to be a big rally," he said.
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