Saad Ullah
⬤ The S&P 500 fell to 6,663.97 by November 7 at 10:06 AM EST, shedding 218.35 points (-3.17%) over five trading sessions. That marks the index's lowest level since late October, matching the timeline shared by The Kobeissi Letter.
⬤ The chart shows a steady downtrend throughout the week, with brief rebounds that couldn't stick. Notes the index erased $1.8 trillion in market cap during this stretch—a massive drawdown that underscores just how sharp the selling has been.
⬤ The U.S. government shutdown is now on day 38, and it's clearly weighing on sentiment. That backdrop, combined with the S&P's multi-week low, is keeping investors on edge as headline risk piles up.
Saad Ullah
