If the Dow finishes down for the week, which it is solidly on pace to do, it would be its eighth-straight weekly loss. That would be the longest weekly losing streak since 1923, according to FactSet data reviewed by LPL Financial.
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“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.