S&P 500 Posts First 4-day Losing Streak Since February

By Staff of Admiral Markets

Tuesday, September 22, 2020 3:41 AM EDT

The world's most-watched stock market, the S&P 500 (SPX), posted its first 4-day losing streak since February while extending to the third week of potential losses. Global stock markets, commodities and risk-based currencies such as the Australian dollar (FXA) crashed lower as investors finally fear the uncertainty of the US presidential election, the deadlock over the next stimulus package and increasing lockdowns around the world.

While some analysts are pointing to a long-overdue correction, some believe the selling is far from over with investment bank Morgan Stanley (MS) suggesting the Nasdaq 100 (NDX) stock market index could fall more than 20% from its peak. The index is already down more than 10% from the high recorded on 2 September.

Investors will also be digesting the following events:

Today's address from UK Prime Minister Boris Johnson regarding new potential lockdown measures to curb the effect of a second wave of the coronavirus
News from Tesla's annual shareholder meeting and highly anticipated 'Battery Day' even

These events could shed light on some upcoming movements or trend shifts.

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