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Why U.S. stocks have fallen 7 days in a row
The smooth and steady uptrend investors enjoyed out of the late June market low has been replaced by a persistent, nagging selloff.
Tuesday marked the seventh straight loss for the Dow Jones Industrial Average as crude oil closed below the $40 a barrel handle for the first time since April.
Investors have also been disappointed by a weaker-than-expected policy response from the world’s central banker following June surprise Brexit vote. Stocks had rebounded in historic fashion merely on the hint and rumor of a possible globally coordinated monetary policy push, which was then narrowed in the days that followed into hopes of a “helicopter money” drop out of Japan (in this case, fiscal spending funded by freshly printed yen).