Apple and Amazon dropped for six straight weeks. There may be more suffering ahead

Apple and Amazon dropped for six straight weeks.  There may be more suffering ahead

The Stock Market May Look Volatile, but the S&P 500 Has Seen Worse. Much Worse. Updated May 9, 2022 7:58 am ET / Original May 9, 2022 1:00 am ET. One out of every six trading days has closed with a gain or loss of 2% or more for the S&P 500 so far this year. The stock market is getting jittery in 2022, as investors try to figure out where the economy and corporate earnings will go amid higher interest rates, record inflation, Russia’s invasion of Ukraine, and China’s Covid lockdowns.

Apple and Amazon.com began the second week of May on the verge of extending their six-week losing streaks, the longest since before the epidemic. Apple (AAPL) and Amazon (AMZN) have lost more than 10% and 30%, respectively, during the previous six weeks, amid a wider market selloff that has struck the tech sector particularly hard as the Federal Reserve raises interest rates in an effort to limit inflation. On Monday, Apple sank 3.3 percent, while Amazon plunged 5.2 percent.

Consider this: So far this year, one out of every six trading days has closed with a gain or loss of 2% or more for the S&P 500. nflation without causing an economic slowdown. Photo illustration by Barron’s staff; (reference) Dreamstime. Like Winnie the Pooh in the Hundred Acre Wood, investors have lived with the naive worldview that everything will be all right. That kind of thinking can you get mauled in a bear market.

The Nasdaq Composite is already in a bear market, and the S&P 500 is likely to do the same, even if it hasn’t met the precise definition of a 20% drop just yet. The index, after all, has fallen 14% from its January all-time high after dropping 0.2% this past week, while nearly half of the stocks within it have declined at least 20%, as their.

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