S&P 500 Ends Losing Streak, But Remains in Correction Territory After Falling Nearly 10% From July Peak
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The S&P 500 logged its first 3-month losing streak since March 2020, falling 2.2% in October.
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The index is down 9.8% from its July peak and officially entered correction territory.
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Higher interest rates and list of uncertainties like Middle East tensions weighed on stocks.
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Historically the last 2 months of the year are positive, with S&P up 4.5% on average after 3 down months.
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Some strategists see stocks moving higher by year-end, with S&P 500 targets around 4,400.