NEW YORK (AP) — It’s been a chilly August for the stock market. At the start of the month, the Dow Jones industrial average and Standard & Poor’s 500 index hit all-time highs. Now the market is down 4 percent from its peak, and August is on track to be the Dow’s worst month since May 2012.
On Tuesday, the Dow posted in its fifth straight day of losses, the first time that’s happened this year.
The stock market slide in the last couple of weeks reflects a shift in investor strategy that began in the bond market and spilled into stocks. The spillover then mixed with lingering concerns about the U.S. economy, leading to the last several weeks of volatility, market observers say.