Dow Jones Plummets as Stocks Bleed Toward Worst Month in 90 Years

  • 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.

If the Dow Jones is below this red line at the end of March, it will mark the worst month in history for the U.S. stock market. Source: TradingView / CCN annotation

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.

S&P 500 futures and Nasdaq Composite futures were down 2.84% and 2.4% respectively.

Dow Jones Industrial Average (DJIA) futures hit the limit-down breakers again on Sunday night. Source: Yahoo Finance

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%.

The financial bloodbath is its own pandemic, impacting markets around the world. | Source: AP Photo/Michael Probst

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…

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