It appears the “everything rally” is starting to slow down as the stock market sees its first losing day of the new year. Why are stocks down today? Well, it appears traders are showing a bit of hesitance following the gangbuster fourth quarter of 2023. Indeed, the S&P 500 closed down by about 0.5% today while the Nasdaq Composite saw a 1.6% drop. On whole, the stock market saw its worst day since October . It’s unclear exactly what fueled the selloff, although it’s possible today’s downtick is a technical movement resulting from the recent strength in stocks. Indeed, the market was on fire the last few weeks of 2023, with both the…
