Lowest Close in Eight Weeks

Today was a rough day for the market. The S&P 500 fell over 2.3% to reach its lowest close in eight weeks.

Measuring from the closing high of three weeks ago, the S&P 500 is now down 9.6%. In other words, we’re not far from 10% which is considered to be an official market correction.

Once again, growth was down more than value. The tech sector was a big loser. For the day, the S&P 500 Tech Index was down 3.2%. Apple, Amazon and Netflix were all down more than 4%.

Our Buy List held up relatively well against the market. While the S&P 500 lost 2.37%, our Buy List lost 1.81%. FactSet is due to release its fiscal Q4 earnings tomorrow morning.

Posted by on September 23rd, 2020 at 6:38 pm


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