S&P 500 Posts Longest Losing Streak in One Month: Markets Wrap

Stocks fell as valuation worries overshadowed data showing the economy is holding up. The figures didn’t have much of an impact on Federal Reserve bets, but short-dated yields climbed. Bitcoin sank.

Following a series of all-time highs, the S&P 500 dropped for a third straight session, the longest slide in a month. That’s despite data showing US gross domestic product grew at the fastest pace in nearly two years.

Wall Street parses data.

Photographer: Michael Nagle/Bloomberg

“We agree that the economy is strong and growing,” said Chris Zaccarelli at Northlight Asset Management, “but a lot of that good news is already priced in. Where we have ...