An equal-weight version of the S&P 500 Index is on track for a seventh consecutive down week. If the weakness lingers through Friday, it would be just the third time the measure has declined for seven weeks in a row ever. The first two instances came in 2002, during the dot-com bust, and in 2022, during a bear-market rout.

Just two S&P 500 sectors have climbed so far in September, both loaded with tech megacaps, communications services and information technology. Financials stocks are the worst month-to-date performers, shedding nearly 7%, while the benchmark KBW Bank Index is in correction territory after peaking in mid-August.

Major US equity gauges show scant sign of pressure, with the S&P 500 about to end the third quarter exactly where it began and the Nasdaq 100, after briefly plunging into a correction, shrugging off rising bond yields and artificial intelligence risks. That’s as rotation in rising and falling single stocks and sectors are largely balancing each other out, keeping the broader market steady. The gap between index-wide calm and single-stock chaos has lately reached the widest level since the height of the dot-com crash in 2000.