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US Stocks Face Longest Weekly Decline Since 2022 as Traders Exercise Caution Ahead of Weekend
On March 27, as traders grow increasingly uneasy about the protracted conflict in the Middle East, the US stock market is heading towards its longest weekly decline since 2022, with bonds across the board also falling. As of 8:25 AM New York time, S&P 500 futures were down 0.4%, indicating the benchmark index is set to decline for the fifth consecutive week. Nasdaq 100 futures fell 0.6%, while Dow futures dropped 0.4%. Amundi multi-asset portfolio manager Amélie Derambure stated, ‘After President Trump’s remarks briefly brought some glimmers of hope, which were quickly dashed, the market now demands higher standards for policy statements. The ‘TACO trade’ has become more difficult to execute, as the situation can no longer return to the starting point.’