The S&P 500 Index, as tracked by the SPDR S&P 500 ETF Trust (NYSE:SPY), declined for the third consecutive week, while the Nasdaq 100 tumbled into a market correction phase, suffering a 10% drawdown from its all-time highs hit last month. Statements from Fed Chair Jerome Powell hinting at a potential rate cut in September provided only temporary support to the stock market, as weaker-than-expected economic data and escalating geopolitical tension in the Middle East dampened investor risk appetite by week’s end. As a result, investors turned to safe-haven assets, with long-term Treasury bonds enjoying their best week in years as yields fell sharply amid increased expectations of Fed rate cuts. Speculators are now betting on a larger 50-basis-point reduction in September. The U.S. economy showed signs of weakness last month, as manufacturing ...