US stocks have notched their longest streak of quarterly losses since the market collapse of 2008, weighed down by central banks’ determination to tame inflation through higher interest rates.
The blue-chip S&P 500 index dropped 1.5 per cent on Friday, bringing the loss over the quarter between June to September to 5.3 per cent. The S&P has now declined for three quarters in a row, the most since the prolonged bear market that accompanied the global financial crisis.
The tech-heavy Nasdaq Composite also fell 1.5 per cent on Friday, ending the quarter down 4.1 per cent to reach the index’s worst closing level since July 2020.
