The stock market’s rough beginning to the month has some investors recalling other awful Octobers in the past—but history suggests there may not be a reason to panic yet.
October is known for huge market crashes—Black Tuesday in 1929, Black Monday in 1987 and the start of the financial crisis in 2008. The major indexes have plunged during the first two days of October: Since Tuesday, both the Dow Jones Industrial Average and S&P 500 tanked over 3%. The rough start to the month has alreadyIn recent decades, however, October hasn’t been scary at all: “The good news, though, is while October has had a bad rap for some big drops, over the past 20 years, it actually has been the third best month of the year for stocks,” says Ryan Detrick, senior market strategist for LPL Financial.
Still, October’s sudden volatility could prove worrisome, since September was so calm . “The lack of any volatility in September could mean the usually volatile month of October could be due for some big swings,” Detrick describes.With the S&P 500 at just over 17% gains for the year, investors are starting to become more cautious as they worry that the bull market is running on fumes.
What goes up must come down... going to be rough next year
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