The S&P 500 index futures have had quite a few three and four-day losing streaks in 2022, but have set a new record for the year, with its fifth down day in a row. Over that course of time, the S&P 500 cash index has swooned from 4160.68 to 3735.49, which is 435.20 handles or 10 percent.
The index did mount a furious rally in the final thirty minutes and briefly went unchanged, but was overwhelmed with sellers into the close. The net result was a decline of 13.75 handles to close at 3736.75. In addition, to move a new low for the move, the index posted its lowest close for the year falling to its lowest level since March 2021.
On a slightly positive note, over half of the top components were in the green. Leading the way was Tesla Inc. (NASDAQ: TSLA). For the session, the issue gained $15.43 or 2.4 percent to close at $662.67.
That was 2.57 percent better than the cash index’s decline of 0.37 percent.
The biggest loser of the top components was UnitedHealth Group Inc. (NYSE: UNH). For the session, the issue declined by $7.95 or 1.69 percent to close at $461.75. Also, that makes a five-day losing streak for the company.
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