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S&P 500 hits worst losing streak since financial crisis S&P 500 hits worst losing streak since financial crisis
(about 2 hours later)
The S&P 500 has fallen for an eighth straight day, its longest losing streak since the 2008 financial crisis. The US S&P 500 index has fallen for an eighth straight day, its longest losing streak since the 2008 financial crisis.
The index dropped 0.4% to 2,088.66, dragged down by a fall in Facebook shares and continued uncertainty over next week's US presidential election. It dropped 0.4% to 2,088.66, dragged down by a fall in Facebook shares and continued uncertainty over next week's US presidential election.
The tech-heavy Nasdaq also dropped for the eighth day running, falling 0.9% to 5,058.41. The tech-heavy Nasdaq share index also dropped for the eighth day running, falling 0.9% to 5,058.41.
The Dow Jones finished 0.2% lower at 17,930.67. All three indexes started the day higher before slumping back.The Dow Jones finished 0.2% lower at 17,930.67. All three indexes started the day higher before slumping back.
"It's a pretty simple equation: uncertainty goes up, stock market goes down," said David Kelly, chief global strategist with JPMorgan Funds."It's a pretty simple equation: uncertainty goes up, stock market goes down," said David Kelly, chief global strategist with JPMorgan Funds.
US stocks have suffered this week amid a narrowing of Hillary Clinton's lead in the polls over her rival Donald Trump.US stocks have suffered this week amid a narrowing of Hillary Clinton's lead in the polls over her rival Donald Trump.
Exercise tracking firm Fitbit was one of the heaviest fallers on Thursday - was down 34% - after it made a weak earnings forecast. On Wall Street, Facebook was down 6% after it reported weaker than hoped for figures overnight and warned advertising growth would slow "meaningfully" next year.
Facebook was down 6% after it reported weaker than hoped for figures overnight and warned advertising growth would slow "meaningfully" next year. Exercise tracking firm Fitbit was one of the heaviest fallers on Thursday - down 34% - after it made a weak earnings forecast.
Among the stocks bucking the trend was media giant 21st Century Fox, which jumped 7% after reporting better than expected earnings.Among the stocks bucking the trend was media giant 21st Century Fox, which jumped 7% after reporting better than expected earnings.