- Dow Jones Industrial Average (DJIA) futures point to another disastrous stock market open on Monday.
- The Dow’s 26% fall in March so far is now the second-worst month on record, beaten only by a 30% drop during the Great Depression in 1932.
- Democrats blocked the Trump administration’s rescue package last night, adding more pain to the stock market.
The Dow Jones is veering towards yet another disastrous milestone as the stock market sell-off continues on Monday. The index has fallen more than 26% in March, putting it on track for the worst month in almost 90 years.
Only one month in history saw bigger losses: September 1931, during the Great Recession, when the Dow fell 30%.
The bad news is, there are still seven trading sessions left in the month.
Dow futures smash the circuit breakers again
Dow Jones Industrial Average (DJIA) futures hit ‘limit down’ circuit breakers within minutes of opening on Sunday night. Things have recovered slightly in the overnight session, but Dow futures remain 3% lower, pointing to a stock market open in the red.
Stock markets still nervous
Despite one of the worst months in history, the stock market selloff shows no sign of letting up. In Europe on Monday, stocks retreated to seven-year lows as the STOXX 600 plunged a further 4.6%.
Senior analyst at Oanda Edward Moya thinks there’s more pain to come.
Risk aversion appears here to stay as investors become more fearful that this could be the worst global recession during peacetime… Volatility was…