As investors take stock from the last few days, the S&P 500 is poised to start its third consecutive day of losses and its biggest decline since the start of the year.
The index closed Wednesday at a record low of 3,746.04, its lowest since May 28, and its worst level since July 18.
On Wednesday, the Dow Jones Industrial Average ended the session at a three-month low of 26,928.10.
The Nasdaq Composite, the biggest U.S. stock market index, fell 0.2% to 4,939.21.
“I don’t know what’s going to happen tomorrow,” said Joe Haggerty, a 52-week veteran of the S & P 500, the most volatile stock market in the world.
“We’re not going to see the market crash.
I don’t see that happening.”
On Thursday, the benchmark S&p 500 index closed 0.6% lower.
It’s the worst start to a year for the S, which has lost almost 10% of its value over the past year.
And on Friday, the Nasdaq will close at its lowest level since June 27, 2018, when it was hit by a virus outbreak that wiped out more than 10 million jobs.
The S&ps fell nearly 6% on Thursday, its worst start since the day after President Donald Trump’s inauguration.
But investors should expect a rebound, said Michael McAlister, a portfolio manager at UBS Wealth Management in Stamford, Connecticut.
“It’s just going to take more time for the market to come back,” McAlisters said.
“In the short term, you need to have more confidence that things will rebound.
But over the long term, I think stocks will come back.”
Picking winners and losers, in other words, is a tough business.
While stocks in some sectors rallied, others faltered.
The tech sector is particularly vulnerable because of the virus and the ongoing economic uncertainty that is weighing on the U.K. and European economies.
“If you look at the fundamentals of the U, and you look across the whole S&P 500, there is a lot of confidence in the U,” said David Bader, an analyst at RBC Capital Markets.
“That is a good thing.”
The S &s biggest drop was for a single index, the tech-related indexes, which closed Thursday down 1.5%.
500 closed up 1.3% and the Nasecap down 2.6%.
The Nasecaps biggest gains came for tech stocks, which fell nearly 8% and 2%, respectively.
The Dow Jones industrial average, which includes the S. &.; P. 500 and the Dow, closed up 0.4%.
“It seems to be the worst that we’ve seen from tech stocks over the last couple of years,” said Daniel Mckenzie, chief investment officer at Blackstone Group LP in Cambridge, Massachusetts.
“A lot of them have been under pressure.”
The S&s biggest decline comes from the tech sectors, which have seen huge losses over the years from the outbreak, which began in March and has spread to several countries.
In the first nine months of 2018, tech stocks lost $1.3 trillion, according to data compiled by Morningstar.
They were down 6.7% in the third quarter of that year.
“There are a lot more reasons why tech stocks have been in a bear market than we’ve ever seen before,” said Michael Rimer, a senior portfolio manager with Renaissance Capital LLC in New York.
“There’s no question that tech stocks are suffering from some of the most aggressive, speculative, over-reactive pricing in history,” said Robert L. Miron, an adviser to the UBS Investment Management Institute.
The Nasecapes biggest gain came from technology stocks, including Apple Inc., Alphabet Inc., Microsoft Corp., Intel Corp. and IBM Corp. The gains are fueled by the fact that investors are increasingly turning to tech companies for growth.
The U. S. tech sector grew nearly 6%, according to the latest numbers from S&am Group LP.
That’s the biggest growth in seven years, according the firm.
Wall Street has been expecting the S and P 500 to end the year with a loss, because the economy is recovering.
That would put a lot pressure on the S stocks, because there are so many of them.
The markets have already lost about $5.5 trillion in market value since the S began its long slide in March.
But there is some hope that the economy could rebound by mid-June, when the Dow closes at 23,000 for the first time since January.
In addition, the stock market has been outperforming its peers for the past month.
For the S stock