The Stock Market may have just sent an important message

Stock market declines could continue as the dollar strengthens as Wall Street awaits Fed Chairman Jerome Powell’s speech later this week and as concerns about inflation and a slowing economy rise.

US stocks fell sharply to start the week on August 22 with the S&P 500 down 2.14% and the Nasdaq down 2.55%. Both gold and oil prices also fell. The S&P 500’s drop was the biggest in two months.

The S&P 500 is down again

The market’s four-week winning streak ended last week as investors turned more defensive and braced for weaker economic growth. The stock market could see bigger losses if the S&P fails to break above its 200-day moving average, Scott Minerd, global chief investment officer at Guggenheim, said in a blog post.

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