Wall Street Ends Worst Month of the Year

Benchmark S&P 500 index is down about 5% for September
By Newser Editors and Wire Services
Posted Sep 29, 2023 3:15 PM CDT
Wall Street Ends Worst Month of the Year
Traders work on the New York Stock Exchange floor in New York City on Tuesday, Sept. 5, 2023.   (AP Photo/Ted Shaffrey)

Wall Street has put the wraps on a miserable September, with the benchmark S&P 500 logging its worst month of the year.

  • The S&P slipped 11 points Friday, or 0.2%, to 4,288, and lost about 5% for the month, per CNBC.
  • The Dow fell 158 points, or 0.4%, to 33,507, and lost more than 3% in September.
  • The Nasdaq gained 18 points, or 0.1%, to 13,219. The tech-heavy index lost more than 5% in the month.

On Friday, solid gains for stocks early on faded as pressure built from within the bond market, per the AP. After easing earlier in the day following encouraging signals on inflation, Treasury yields rose as the day progressed. And fears of a government shutdown this weekend didn't help. Of note in the market: Nike jumped 7.2% after reporting better profit for the latest quarter than analysts expected. Strength overseas helped it make up for some declines in North America. Blue Apron soared 134.1% after the meal kit company said it was being bought by Wonder Group for $13 per share in cash in a deal valued at $103 million.

Energy stocks were among the biggest losers, with those in the S&P 500 falling 1.9% as a group. That was by far the worst performance among the 11 sectors that make up the index as oil prices slid, but they remain the market's standout performers since the summer. Exxon Mobil fell 1.8%, and Schlumberger dropped 3.7%. Shares of Ford and General Motors were slipping after the United Auto Workers said it will expand its limited strike to include another facility for each. Ford fell 1.1%, and GM was 0.3% lower.
(More stock market stories.)

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