The US stock market is experiencing a downturn, with investors adopting a more cautious stance due to a series of risk events including rising bond yields, the Federal Reserve meeting, and the US midterm elections. The S&P 500 closed lower for the fourth consecutive trading day on Thursday, marking its longest losing streak since June; the Cboe Volatility Index (VIX, Wall Street's "fear gauge") also rose to its highest level since early August.