STOCKS TURN SOUR: Slow motion deterioration with pockets of shares down 20% or more…

The land mines for the market are growing. Seasonal weakness is combining with uncertainty over the Covid-19 delta variant’s impact on consumer behavior, rising labor and material costs pushing prices higher as well as poor economic data out of China.

While the S&P 500 is still about 1% from its record high, those land mines are taking their toll on large sectors of the market.

“For the last several months, most stocks have declined more frequently than they have advanced–evidence of a weakening market condition,” CFRA chief investment strategist Sam Stovall said in a recent note to clients.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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