S&P 500 posts first 4-day losing streak since February

September 22, 2020 10:00

The world's most-watched stock market, the S&P 500, posted its first 4-day losing streak since February while extending to the third week of potential losses. Global stock markets, commodities and risk-based currencies such as the Australian dollar crashed lower as investors finally fear the uncertainty of the US presidential election, the deadlock over the next stimulus package and increasing lockdowns around the world.

While some analysts are pointing to a long-overdue correction, some believe the selling is far from over with investment bank Morgan Stanley suggesting the Nasdaq 100 stock market index could fall more than 20% from its peak. The index is already down more than 10% from the high recorded on 2 September.

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Investors will also be digesting the following events:

  • Today's address from UK Prime Minister Boris Johnson regarding new potential lockdown measures to curb the effect of a second wave of the coronavirus
  • News from Tesla's annual shareholder meeting and highly anticipated 'Battery Day' even

These events could shed light on some upcoming movments or trend shifts.

How to trade the S&P 500 index with Admiral Markets UK Ltd

If you are feeling bullish or bearish on the price of the S&P 500 index or other instruments, you can speculate on its price direction using CFDs. To get started, follow these five simple steps:

  1. Log in to your existing Admiral Markets trading account, or open a live or demo trading account in just a few minutes.
  2. Click Trade on your chosen account which will direct you to the Admiral Markets MetaTrader Web Platform.
  3. Type in SP500, or another instrument, at the bottom of the Market Watch search box and then drag the symbol onto the chart.
  4. Use the one-click trading feature on the chart or right-click on select Trading -> New Order.
  5. Choose your entry, stop loss and target levels and position size (volume) and then confirm the trade.

SP500 Weekly chart

Source: Admiral Markets MetaTrader 5 Web, SP500, Weekly - Data range: April 13, 2014, to September 22, 2020, performed on September 22, 2020, at 7:09 am BST. Please note: Past performance is not a reliable indicator of future results.

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