Wall Street closes fourth straight trading day in the red as Bed, Bath & Beyond stock plummets

Frankfort, New York Fear of aggressive rate hikes by the US Federal Reserve also weighed on Wall Street on Wednesday. The US stock exchange not only closed the fourth trading day in a row in the red. It was also the worst August performance for the three major indices since 2015.

The coming month also worried traders, as September is traditionally considered to be rather weak for equities. “September tends to be the worst month of the year,” said CFRA investment strategist Sam Stovall. However, this could also become a self-fulfilling prophecy.

The Dow Jones lost 0.9 percent to 31,510 points. The tech-heavy Nasdaq fell 0.6 percent to 11,816 points and the broad-based S&P 500 fell 0.8 percent to 3,955 points. All three indices lost more than four percent over the course of the month.