More Losses to End a Sour Month on Wall Street
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iStock/Thinkstock(NEW YORK) — The markets close the book on weak trading in January with another loss. Stocks rebounded Friday from sharp early losses only to plunge again just before the bell.
The Dow Jones Industrial Average called it a month down 151 points at 15,698.85. The Nasdaq Composite fell 19 points to 4,103.88. The S&P 500 gave up 12 points to end the day at 1,782.59.
The sell off only added to a tough month. It was the Nasdaq’s biggest monthly percentage drop since October 2012. For the month, the Dow fell almost 880 points, or 5.30 percent. It’s the largest one-month point drop since February of 2009 and also the largest January point drop in its history, according to S&P Dow Jones Indices.
On a percentage basis it’s the largest one-month decline since May of 2012 and the worst January in percentage terms since 2009.
Consumer spending is slipping along with stocks. The University of Michigan’s latest consumer sentiment index dropped 1.3 points to 81.2 this month. That’s still a healthy level, and solidly higher than January of last year.
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