Dow Jones Industrial average drops 1,300 points last week
Investors should keep perspective and stick with their long-term plan
WEEKLY MARKET COMMENTARY |
Last week the Dow Jones Industrial Average and S&P 500 dropped more than 5 percent, marking the largest decline for U.S. equities since this past February. U.S. equity markets have now dropped for six straight trading sessions, the longest such stretch since November 2016. While no single factor is to blame for the recent pullback, a combination of factors have likely contributed to the decline including, rising interest rates, the ongoing trade dispute with China and elevated equity valuations.
Technology stocks, which have been a significant driver behind U.S. equity market returns over the past several years, have added to the malaise, as the S&P 500’s technology sector has been among the index’s worst performing sectors.