The last trading day of August had many investors pondering what September will bring to Wall Street. The markets have been well known to suffer in Septembers of the past. In fact its historically proven that the stock market has had its worst performances during the month of September. According to the Stock Trader’s Almanac, which says is “dedicated to arming traders and investors with the information and insights to make more profitable trades and investments,” September is the month when the stock market’s three leading indexes (Dow, S&P & Nasdaq) usually perform the poorest.
“Since 1950, the month of September has seen an average decline in the Dow Jones Industrial Average of 1.1%, while the S&P 500 has averaged a 0.7% decline during September. The Nasdaq has fallen an average of 1% during September since 1971.”
Why has the month of September been such a downer of a month for investors? No one really knows for sure. Read more here.
CBS News looked at the “September “stock-slide” issue a few years back. Watch below.
Here are the final numbers from Wednesday, August 31, 2016 on Wall Street:
Dow Jones Industrial Average: 18,454.30(-48.69 / -0.26%)