September is historically the worst month for the stock market, and this year proved no different. The Dow Jones Industrial Average fell 3.5% in September, its worst monthly performance since February. The S&P 500 dropped 4.9% and the Nasdaq Composite declined 5.8%, both indexes’ worst month since December.
That plays into an equally important point. While investors had hoped that gains in the fight against rising prices might allow the Federal Reserve to stop raising interest rates, or even cut them next year, Chairman Jerome Powell made it clear that the central bank was going to keep them higher for longer.
Investors have also been concerned with the government shutdown, which Diton said causes an automatic slowdown to the economy as people stop getting paid and services halt. “I see a lot of signs of excessive negativity,” Diton said. “One thing October has done a whole bunch of times is make a historic bottom in the month. A lot of major bottoms have occurred in that month. And I actually think the fourth quarter is going to be positive, and I think that October is going to be positive.”
Россия Последние новости, Россия Последние новости
Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей
Источник: CNBC - 🏆 12. / 72 Прочитайте больше »