Stocks rally to start the new month and quarter, as Treasury yields eased from levels not seen in roughly a decade.
The Dow shed 8.8% in September, while the S&P 500 and Nasdaq Composite lost 9.3% and 10.5%, respectively.
For the quarter, the Dow fell 6.66% to notch a three-quarter losing streak for the first time since the third quarter of 2015. Both the S&P and Nasdaq Composite fell 5.28% and 4.11%, respectively, to finish their third consecutive negative quarter for the first time since 2009. As the new quarter kicks off, all S&P 500 sectors sit at least 10% off their 52-week highs. Nine sectors finished the quarter in negative territory.
In the fourth quarter, elevated inflation and a Federal Reserve intent on bringing surging prices to a halt regardless of what it means for the economy will likely continue to weigh on markets, said Truist’s Keith Lerner. Oversold conditions, however, also make the market vulnerable to a sharp short-term bounce on good news, he added.
“I think we could be set up for some type of reprieve but the underlying trend at this point is still a downward trend and choppy waters to continue,” Lerner said.Samantha Subin, CNBC
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
A bad year for Wall Street gets even worse, as stock markets finish September downLast month was the worst September for the S&P 500 since 2002 — with all 3 major indexes solidly in bear market territory. Wall Street is uneasy about the global economic outlook. Here's what to know.
Read more »
Two dead in Chula Vista crashWitnesses said a car hit a concrete wall after exiting Interstate 805 at East Palomar Street
Read more »
2 in custody following stabbing death of man in downtown Los AngelesThe incident happened Saturday afternoon near the intersection of Wall Street and Olympic Boulevard.
Read more »
Irina Shayk’s Latest Look Belongs on Wall StreetGiven tailoring is always one of Armani’s strongpoints, Irina Shayk’s black suit, white button-up shirt, and skinny black tie was certainly an appropriate choice for the Italian label’s show
Read more »
Stock Market Today: Dow Gains Over 600 Points; Tesla Falls; Oil SurgesThe Dow rallied about 600 points as stocks rose broadly to start the fourth quarter. Treasury yields pulled back from multiyear highs.
Read more »
Stocks rally to start October and a new quarter with Dow up over 600 pointsWall Street is coming off a tough month, with the Dow and S&P 500 notching their biggest monthly losses since March 2020.
Read more »