In October 2024, a significant sell-off in technology stocks resulted in Wall Street losing all gains made during the month. The S&P 500 index declined by 0.99%, marking the end of a five-month winning streak for the index. This downturn also affected the Dow Jones Industrial Average, which similarly concluded its five-month streak of gains. Analysts noted that the sharp decline in tech stocks was a primary factor contributing to this abrupt shift in market performance.