30 September (WNN) — US stocks fell on Thursday as Wall Street turned its worst-performing month of the year.
The Dow Jones Industrial Average fell 546.8 points, or 1.59%, on the last day of trading in September, while the S&P 500 lost 1.19% and the Nasdaq Composite 0.44%.
The S&P 500 is down more than 4% for the month of September, its worst month since March 2020 when the COVID-19 pandemic began.
“September lived up to its reputation and impacted stock portfolio returns, but not too badly,” said Ed Yardney of Yardney Research. “There’s a lot of concern that higher wages, higher energy prices and higher transportation costs will weigh on earnings for the remainder of this year and into 2022. It’s certainly something we’ll be keeping an eye on. But for now, analysts remain relatively optimistic.”
The S&P 500 is on track with a 1.4% increase at the end of the quarter, however, the increase is the smallest three-month gain since March 2015.
Energy and financial stocks pulled back from previous gains on Thursday, with shares of Goldman Sachs down 1.78% and JPMorgan down 1.36%.
Netflix stock rose 1.88% and chipmaker Nvidia gained 0.98% as tech stocks rebounded slightly from losses caused by rising Treasury yields, but Apple stock fell 0.93% and Amazon fell 0.48% as both stocks. First profit.