March 29, 2023

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The Dow is on course for its worst month since March 2020

The Dow is on course for its worst month since March 2020

New York
CNN Business

It was September terrible month for Stores. The Dow is on track to fall more than 8%, its worst monthly drop since March 2020, when the pandemic shutdowns began in the United States. The index was on Red Friday as well.

The dawa widely watched measure of the US stock market that includes giant companies such as Apple

coca cola




down 325 points, or 1.1%, in afternoon trade.

worry about High stock levels In the Nike Dow component

Blue stocks pushed lower on Friday. Nike stock

It fell 12% as investors were concerned about how they would need a huge discount on sneakers and other sports apparel.

The Dow fell more than 5% in the third quarter and is now down about 20% this year, putting it in a bear market. The Dow is trading near its lowest since November 2020.

The Standard & Poor’s 500which fell 0.8% on Friday, fell nearly 9% in September and fell nearly 24% in 2022. This puts the index on track for its worst annual decline since 2008. Nasdaq Composite It fell 0.6% on Friday and is down about 10% this month. It’s down more than 30% this year.

Some market experts are hoping the worst may be over soon for stocks, given how aggressive the sell-off was. But investors remain concerned about the economy and profits.

inflation It led the Federal Reserve to raise interest rates dramatically. This could eventually slow down consumer and business spending. Fears of a recession they grow.

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The CNN Business Fear and Greed Index, which measures seven indicators of Wall Street sentiment, shows levels of intense fear. And there was There are no safe havens For investors to weather the market storm. Bonds, gold, and bitcoin all fell in 2022 as well.