Industry | 2009.09.01
Why September Is Bad for Markets
September is the month when kids go back to school, leaves turn yellow and gold, and stock prices drop like ripe apples.The Standard & Poor\'s 500-stock index has fallen an average 0.9% in September since 1959, making it the worst month of the year for investors. (February is second, with an average 0.3% loss.)September\'s not just a blight on the S&P 500, it\'s the worst month for the Dow Jones industrial average and the Nasdaq composite index, too, says Jeff Hirsch, editor in chief of the Stock Trader\'s Almanac. "And in the first two years of a president\'s term — the post-election year and the midterm year — September fares a bit worse," Hirsch says.Investors have suffered more double-digit losses in September than in any other month, says Sam Stovall, chief market strategist for S&P. The S&P 500 has dropped 10% or more seven times since 1929, vs. five times for October.And, Stovall says, September holds the record for worst monthly performance since 1929 — a 29.9% plunge in September...
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