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Stocks end September down 9.3%, worst month since March 2020

Financial Markets Wall Street
Posted at 9:31 PM, Sep 30, 2022
and last updated 2022-09-30 21:31:36-04

Friday marked the end of the week and month on Wall Street, closing out with losses across the board.

September finished on a miserable note for stocks with a loss of 9.3%, which makes it the worst monthly decline since March 2020.

The S&P 500 fell 1.5% on Friday and is at its lowest level in almost two years.

The benchmark index has lost ground for six of the last seven weeks and posted its third straight losing quarter.

The Dow Jones Industrial Average lost 1.7%, and the Nasdaq fell 1.5%.

Nike fell sharply after the company had to slash prices to clear inventories, while Carnival dropped following weaker-than-expected quarterly results.

Bond markets were showing calmer as yields relaxed.

The root cause of markets struggling is fear, as people worry about a possible recession and interest rates soaring in hopes of beating down the high inflation that's swept the world.