September’s sell-off may have unnerved many investors after a hot start to the year. But history shows such pullbacks are pretty common.
September's sell-off may have taken many investors by surprise after a hot start to the year. But history shows such pullbacks are actually pretty common. Bank of America strategist Ritesh Samadhiya noted that since 1950, there have been 15 instances in which the S & P 500 rallied more than 15% through July and then dropped by an average of 8% between August and September.
And once the summertime blues are out of the way by the end of the quarter, global equity markets may well be in for a high single-digit rise by the end of the year," Samadhiya wrote. The S & P 500 is down more than 6% since the end of July, losing more than 1.7% in August and 4.5% in September. Fears that the Federal Reserve will keep interest rates higher for longer, rising Treasury yields, the strong dollar and a surge in crude oil prices have pressured stocks in that time.
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