With just a few minutes left in the trading day, the S&P 500 is bound to end the week with another loss -- marking its fifth straight weekly decline. As Bespoke Investment Group pointed out, this is the first five-week losing streak since July 2008.
Back then, the stock market was on the verge of falling into the financial crisis that ushered in the devastating bear market of 2008 and 2009. Now, the market appears to be reacting to a combination of high crude oil prices and a stready stream of disappointing U.S. economic news -- the latest being Friday's ugly payrolls numbers for May.
David Berman