The US stock market has ended September on a low, reporting it’s worst month of the year since March 2020
A result of rising rates, inflation fears and concerns about the Chinese property market the S&P 500 finished September down 4.8%.
Others including Nasdaq and Dow dropped 5.3 per cent and 4.3 per cent.
Investment consultants say that higher wages, energy prices and transportation costs will impact earnings for the rest of 2021 and into the next year.
“It’s not really surprising that we’re seeing a weaker September because historically its the worst month on average,” said Jay Pestrichelli, CEO, of investment firm ZEGA Financial.
“Unfortunately, there’s not a lot of information to glean for October from it.”
