Stocks moved lower in September as a five-month market winning streak came to an end. The downturn was led by a selloff in technology stocks, which have paced the S&P 500’s recent recovery from its March 2020 low.

The U.S. stock market finished higher for the fifth consecutive month in August as investor optimism persisted amid a tenuous economic recovery. The S&P 500 had it best August in 34 years, led by the technology sector.

Domestic stocks continued to charge higher in July, despite record low economic output and an uncertain outlook. The S&P 500 shrugged off regional surges in coronavirus cases to rise 5.5 percent for the month, its best July since 2010.^[1]