Wall Street Ends Third Consecutive Losing Week

The stock market has endured a challenging month of August, with Wall Street closing its third consecutive losing week. The S&P 500, along with other U.S. indexes, ended the week with a loss of over 2%, signaling a decline in investor confidence. Despite a slight increase in the Dow Jones Industrial Average and a minimal decrease in the Nasdaq composite, the overall sentiment remains negative. The primary driver behind this downward trend is the rise in yields, which has prompted investors to reassess the potential overvaluation of stocks. Critics who warned of market exuberance earlier in the year are now being proven right, as the market corrects itself.