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The Dow is on its longest weekly losing streak since 1923

<i>Courtney Crow/New York Stock Exchange/AP</i><br/>The stock market selloff has left the Dow Jones Industrial Average on track for its longest weekly losing streak in nearly a century.
Courtney Crow/New York Stock Exchange/AP
The stock market selloff has left the Dow Jones Industrial Average on track for its longest weekly losing streak in nearly a century.

By Matt Egan, CNN Business

The stock market selloff hit pause Friday, but the Dow Jones Industrial Average couldn’t avoid its longest weekly losing streak in nearly a century.

The Dow ended Friday nine points higher but finished the week down about 3%.

This was its eighth-straight weekly loss, the longest weekly losing streak since 1923, according to FactSet data reviewed by LPL Financial.

The long stretch of losses underscores the negative mood on Wall Street as investors grow nervous about high inflation — and what the Federal Reserve will have to do to get prices under control.

The broader S&P 500 posted its seventh-straight weekly loss, which its the longest such slump since March 2001, according to Bespoke Investment Group. The S&P 500 briefly entered bear-market territory Friday, a 20% drop from the all-time high it reached in January.

“From inflation, to a hawkish Fed, to war, to supply chain issues, to China on lockdown, to a slowing economy, there are many reasons stocks have done as poorly as they have recently,” LPL Financial’s Ryan Detrick said in an email.

Detrick said the silver lining is that history suggest stocks are oversold.

“If we get any good news, a big bounce back rally is likely,” he said.

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4 Comments

  1. Not a single soul should be surprised at the catastrophic economy Biden has created… he bragged about undoing all of Trump’s policies as he executive ordered our nation into poverty and a recession. Kamala Harris then came out and told ya’ll to stuff it- you voted for this ! So there ya go… more people going to the poorhouse for our locals to pretend don’t exist… oh yeh times are just a little tough… not according to the history books… these are exceptionally pathetic times under Biden and his all Demokant band of idiots.

  2. Wonder if the progressives will ever admit they are responsible for this. If anyone voted for Biden and still doesn’t realize that they are partially responsible for this, then there’s no reasoning with them. They are not worth trying to convince because they are hopelessly lost. If we get more of this then RIP USA. Unfortunately, that’s exactly what they want.

  3. Remember how all the cry babies on here would come uncorked on Trump at the dow dropping a few hundred points…. and literally say nothing when it bounced back and then some every single time within a day, maybe 3? I guess they broke the cake hole, huh?

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