All three major U.S. equity indices registered their first three-month losing streaks since the onset of the pandemic in March 2020. Earlier, on October 27, the benchmark S&P 500 had briefly been in correction status, down 10.3% from its 2023 high on July 31. The two-day, month-ending rally removed the designation, netting the S&P 500 with an 8.25% loss over the past three months.
The Monthly Recap is published by Cetera Investment Management LLC, an SEC registered adviser owned by Cetera Financial Group. Cetera Investment Management provides market perspectives, portfolio guidance, model management, and other investment advice to its affiliated broker-dealers, dually registered broker-dealers and registered investment advisers.