After a drubbing, market searches for its mojo

Charley Blaine
Sun, Sep 8, 2024,

September is September. It just drives investors and Wall Street crazy.

Everyone comes back from summer vacation, happy, maybe even relaxed. And then the stock market basically says, "Don't get cocky."

September sure happened last week, and the unease is growing.

The Standard & Poor's 500 Index dropped 4.3% on the week, its worst weekly loss since a 4.7% decline in September 2022. The Nasdaq Composite Index slumped 5.77%, its worst weekly loss since January 17, 2022.

The concern is two-fold:

The U.S. economy seems to be slowing.

Traders, investors, and money managers around the world are waiting for the Federal Reserve to make a decision on interest rates. That won't come for another week.

So, September gets to play, well, September. Between 2014 and 2023, stocks have fallen in September seven times. The month has been the worst month for stocks overall since 1950, according to the Stock Traders Almanac.

Hela artikeln:
https://finance.yahoo.com/news/drubbing-market-searches-mojo-140600258.html