The S&P 500 completed its longest losing streak since 2022 as rising oil prices and a sharp decline in the 'Magnificent 7' tech group dragged down equities. The benchmark index's downturn coincided with a $300 billion market value loss across the leading tech stocks.
- S&P 500 experienced its longest losing streak since 2022
- CL=F oil prices surged, contributing to market volatility
- 'Magnificent 7' stocks lost $300 billion in market value
- The VIX index rose amid increased investor anxiety
- Market downturn driven by energy price spikes and tech sector weakness
- Broader equity market repricing under pressure
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