The stock market is now most bearish than ever. <a href="https://ttm.financial/S/.SPX">$S&P 500(.SPX)$</a> hits 4231 now and <a href="https://ttm.financial/S/.IXIC">$NASDAQ(.IXIC)$</a> is at 13016. The three major indexes have been sliding downwards together for two weeks. Fat bear is getting fatter in the coming week as the impending government shutdown looks unavoidable. This has certainly sparks financial panic in the market. Furthermore, the US 10-year treasury (^TNX) has reached as high as 4.55% in Monday’s trading. Wall Street says it may go all the way up to 10% as the Fed already said rates hike will come soon. Quite certain there is more dip now that SPX is below 4300//@Tiger_comments
$S&P 500(.SPX)$ closed at 4273.53, below the key support level of 4300; $NASDAQ(.IXIC)$ fell below 13100 yesterday.With two key indices falling below the support level, market begins to speculate for more declines.The UAW strike, the potential shutdown of the US government this weekend, and analysts downgrading ratings of tech giants have made the upcoming October more uncertain.If the Republican and Democratic parties cannot reach an agreement before October 1st, most federal government departments will have to shut down.Although fat bear week is held to pick fat bears, some retail investors consider it’s an unlucky period for stock market. Especially, it coincides with the plunge of major indi