Major Global markets edged slightly downward last week, with the U.S markets leading as some benchmark indices logged their first five-day losing streak since mid-February. In reality, major global indexes are barely down on the month and a little over 1% off record highs.
United States
The leaders in global market indices retreated over the shortened trading week—markets were closed on Monday in observance of Labor Day. The small real estate sector led the declines in the S&P 500 Index as longer-term interest rates increased, while consumer staples and utilities stocks held up best. The small-cap Russell 2000 Index fared worst after two consecutive weeks of outperforming the large-cap benchmarks, and value stocks trailed growth shares.
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