Wall Street Wraps Up Third Consecutive Losing Week as S&P 500 Ends with 2% Loss
The S&P 500 closed the week with a loss of over 2%, extending the market’s losing streak to three consecutive weeks. Despite a minimal decrease of less than 0.1% on Friday, the index ended at 4,369.71. The Dow Jones Industrial Average managed to add 0.1%, while the Nasdaq composite slipped 0.2%. August has proven to be a challenging month for the stock market, with investors showing concerns over rising yields and the potential overvaluation of stocks. The rapid rise in yields has forced investors to reevaluate their portfolios and reassess the value of stocks after months of consistent gains.
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