Stock market’s gains for year wiped out

National News

October 25, 2018 - 1:09 PM

Specialist Charles Boeddinghaus, center, and trader Michael Milano work on the floor of the New York Stock Exchange, Wednesday, Oct. 24, 2018. AP Photo

NEW YORK (AP) — Just when you thought it was safe to go back in the market.

If you’re an investor who was lulled to sleep by the stock market’s calm, steady gains this summer, you’re wide awake by now. Stocks have swooned over the last three weeks as investors worried about a sea of troubles, including rising interest rates and the trade tensions between the U.S. and China. Both could impair profit growth for U.S. companies.

The S&P 500 index has plunged 9.4 percent in just three weeks, with two separate six-day losing streaks. It hadn’t had a streak of losses that long since November of 2016. With five trading days left in October the index is on track for its worst month in a decade.

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