September proved to be a bruising month for the main U.S. equity benchmarks, resulting in the first losing month for Wall Street since a recovery rally began in late March.
The last time any of those main benchmarks posted as ugly a September performance was 2011, during the European sovereign debt crisis and the downgrade of America’s pristine triple-A credit rating by Standard & Poor’s. Overall, however, on a percentage basis, the S&P 500 and the Dow have tended to fall on average in October. An important point to note, is that the relatively short data set is skewed to the low side by the punishing declines endured by the market in 2008, when the Dow lost 14.1% in October of 2008, the S&P 500 dropped nearly 17% that month, and the Nasdaq Composite tumbled almost 18%.
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