For the US market at least, a poor January has resulted in a down year nearly three-quarters of the time since 1929. (AP Photo/Richard Drew)
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
For the US market at least, a poor January has resulted in a down year nearly three-quarters of the time since 1929, according to S&P Dow Jones Indices.Still, most investors will snicker at its mention – with 11 more months of events to come there is no legitimate reason why it should be true. Rekindled fears of a slowdown in China and the potential ripple effects around the world alongside a precipitous drop in oil spooked investors and sent markets reeling this month.For the first two weeks of the year, the US had its worst ever open, shedding nearly $2tn of stock market valuation, while a number of benchmark equity indices briefly slid into bear market territory, registering drops of 20 per cent from recent highs as oil hit levels not seen in 12 years.Add to that soft earnings growth – the US is poised to report its third consecutive quarter of year-over-year earnings declines, the worst showing since the financial crisis – and it is hard to make a case for strong gains in US equities.
FOLLOW THIS ARTICLE