The new date is Sep 30, 2022.
Markets sank Friday to close a historically bad month and quarter, as investors continue to fret over tighter monetary policy and set the stage for the worst year-to-date performance since 2008.
This was the worst month for the stock market in over a year.
On the last trading day of the quarter, the DJIA fell 1.7%, ending the week down about 800 points, and the month down about 3000 points.
That is the worst month since March 2020, its 10th worst month this millennium and its worst September since 2002, even worse than the financial crisis.
Both the S&P 500 and the tech-laden Nasdaq lost 10% of their value on the month.
The S&P declined for three quarters in a row for the first time since 2009.
This month's dip in the market is largely attributable to escalating fears that the Federal Reserve will continue to raise interest rates for longer than anticipated policy plans as inflation remains stubborn.
The stock market is on pace for one of its worst years, with the S&P and Nasdaq down 25% and 33%, respectively, so far this year.
On September 13th, the S&P fell 4%, its largest single day loss of the year, after data from the Labor Department revealed that consumer prices rose faster than expected in August, with investors expecting further rate hikes from the Fed as it attempts to bring down inflation. Several other economic indicators released this month also demonstrated sticky inflation, with August core inflation exceeding analyst expectations and initial jobless claims hitting their lowest level in 5 months, a concern for investors as the Fed has expressed the need for the labor market to contract before stopping rate increases. Lael Brainard, the Fed's vice chair, said Friday thatmonetary policy will need to be restrictive for some time.
The British government unveiled a plan to reduce taxes that rattled bond markets. In a Friday note, Sevens Report analyst Tom Essaye said that the British government was making the market nervous.
Russia annexed four Ukrainian provinces on Friday, and the war in Ukraine continues to affect markets. The Russian invasion continues to add to market volatility, energy insecurity, and downside risks for economic growth, according to a Friday note.
22%. The stock of Carnival fell to its lowest level in 30 years after the company reported dismal third quarter earnings.
The stock market is worse than ever.
The stock crashed and hit an all-time low.
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