S&P 500 Falls for Sixth Straight Fed Decision Day, Longest Streak Since 2018

This is less a verdict on Fed policy than on positioning: the pattern suggests markets have repeatedly entered decision days priced for a friendlier outcome than delivered, and been repriced accordingly. The streak's length matters because it spans multiple meetings and shifting expectations, implying a persistent asymmetry rather than one-off disappointment. Whether this reflects genuine reassessment of the rate path or simply crowded pre-meeting risk-taking is the open question; a break in the pattern would say more about positioning than about policy itself.