The S&P 500 experienced significant declines, closing below its 50-day moving average for the first time since November. Stock market sentiment shifted to extreme fear with the Fear & Greed index at its lowest since October 2023. The index recorded its biggest weekly decline since October, its worst week since March 2023, and a three-week losing streak. The intraday moves were notably more volatile than close-to-close, with an average swing of 1.4% intraday compared to 0.62% close-to-close. The S&P 500 traded at a two-month low, facing its worst losing streak since 2022 and dropping below 5,000 points to a two-month low in April 2024, marking over a 5% decline, the worst since December 2022.
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Benzinga
S&P 500 Trades At Two-Month Low: Where Is The Next Support? S&P 500 faces its worst losing streak since 2022, dipping below 5,000 points to a two-month low. April 2024 records over 5% decline, worst since December 2022. Historical data hows that drawdowns are a regular part of… https://t.co/oWGaNKiIjK
Liz Ann Sonders S&P 500 closed in red for 3rd week in row (longest losing streak since September); last week was also worst in over a year (-3.0%); despite sell-off, handful of large-cap segments were up with Utilities leading way; worst-hit was Technology @SPDJIndices https://t.co/LoNvVeDKZh
zerohedge The S&P posted its worst week since March 2023, yet the intraday moves were significantly more violent than close-to-close. On average, we saw SPX swing 1.4% intraday vs avg close-to-close moves of just 0.62%: GS
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