December has been the worst month for the Dow since the Great Depression
- US Market
- 2 months ago
The DJIA has dropped by 120 points in another volatile trading session, as earlier news pointing to the Federal Bank of New York potentially reviewing its interest rate policy.
However, the good momentum that saw the Dow rise 300 points quickly faded away, the S&P500 continued retreating by 1% and the Nasdaq Composite fell by 2.5% as it ventured further into bear territory, with the notable losses of Facebook by 5.7%, Apple by 2.7% and Amazon by 5.4%.
Nike instead broke for a surge of 8%.
The story so far for the U.S. indices has been rather dreary, just this Thursday both the Dow and the Nasdaq reported lows not seen since October 2017 while the S&P 500 equally saw levels that have not been reached since September 2017.
Another interesting fact that doesn’t carry much excitement is that both the Dow and the S&P 500 are well on the path to record their worst December month since the Great Depression of 1931, additionally the Dow has its worst month since February since 2009.
Meanwhile the Russell 2000, which oversees the smaller entities on the market hasn’t seen these kinds of murky waters since October 2008.
Source: Smart Trend Team