Tech, Trade War Break S&P 500’s Momentum
- Index posts weekly decline after rallying 3% in August
- September has historically been the second-weakest month
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Returning from vacation is a drag -- in life, in stocks. True to form, September started with the worst S&P 500 retreat since June.
Anyone hoping last month’s momentum would persist was disappointed. After hitting a record on Aug. 29, the index has fallen on five of six days, with the twin tech pillars of semiconductors and the FAANGs leading the way.