Wednesday's comeback shows why stocks may be volatile the rest of September

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Wednesday's comeback shows why stocks may be volatile the rest of September
S&P 500 Index,Dow Jones Industrial Average,Stock Markets

Yesterday's moves were enough to give any investor whiplash.

Wednesday's moves were enough to give any investor whiplash. The Dow Jones Industrial Average traded 743.89 points lower at one point during the session. The S & P 500 and Nasdaq Composite shed as much as 1.6% and 1.4%, respectively. Those declines came after new consumer inflation data poured cold water on any lingering hopes that the Federal Reserve might slash interest rates as much as half a percentage point at next week's policy meeting. The sell-off didn't last, however.

"Besides seasonal headwinds, we view weakness thus far in the month as an extension of the mid-summer positioning-driven downturn. These kinds of drawdowns typically follow a 'W'-shaped pattern." Iachini noted that investments by individuals into stocks have begun to slow, but that Main Street hasn't capitulated yet.

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