September is typically a seasonally weak for the US stock market , and it didn’t disappoint this month. The major stock indices are going out at the lows for the day, month, quarter. For the Nasdaq , the index is closing at the lowest level since July 2020. The Dow is closing at the lowest level since November 2020. The S&P is closing at the lowest level since November 2020 as well.
- The Dow and the Nasdaq are both closing below their 200 week MA for the 2nd consecutive week. For the Nasdaq you have to go back to 2009 to have two consecutive week closes below the 200 week MA.
- The S&P is closing below its 200 week MA for the first time since the week of March 30, 2020.
S&P closes below the 200 week MA since March 2020
- The Dow had the worst September since 2002
- The S&P and Nasdaq had its worst September since 2008
Good riddance September.
For the day:
- Dow industrial average fell -500.10 points or -1.71% at 28725.52
- S&P index fell -54.61 points or -1.51% at 3585.61
- Nasdaq index fell -161.88 points or -1.51% at 10575.63
- Russell 2000 fell -10.21 points or -0.61% at 1664.71
For the month:
- Dow industrial average -8.84 point
- S&P index -9.37%
- NASDAQ index -10.5%
For the quarter, the major indices closed lower for the 3rd consecutive quarter.
- Dow industrial average fell -6.66% (oh no!)
- S&P index fell -5.232%
- NASDAQ index fell -4.11%
The worst performing S&P sectors this month were:
- Real estate, -14.49%
- Communication services -12 14%
- Information technology -12.09%.
This article was originally published by Forexlive.com. Read the original article here.