S&P 500 Set to Record Fifth Consecutive Weekly Decline, Longest Losing Streak of 2023

As of the market close on March 26, the S&P 500 Index (SPX) closed at 6,477.16 points, marking a weekly decline of approximately 1.9%, officially confirming its fifth consecutive week of losses, the longest weekly losing streak of 2023. The index has retraced about 7.2% from its historical high of 6,978.59 points on January 27 and fell below the 200-day moving average (6,619 points) on March 25, triggering a critical technical breakdown signal.