Shutdown Watch September is poised to deliver the S&P 500’s worst monthly performance of 2023 -- a 5% drop.
The Nasdaq Composite is down 6.5% with big-cap tech names taking it on the chin (Apple down 10%, Nvidia – darling of AI – down 11%, Netflix down 14%). Even the stalwarts of the Dow Jones Industrial Average are down a collective 3.4%
Hedges have been hard to come by: the long-duration bond fund TLT lost almost 7% for the month; the gold fund GLD clipped for 4%. One bright spot -- the U.S. Dollar.
The Nasdaq Composite is down 6.5% with big-cap tech names taking it on the chin (Apple down 10%, Nvidia – darling of AI – down 11%, Netflix down 14%). Even the stalwarts of the Dow Jones Industrial Average are down a collective 3.4%
Hedges have been hard to come by: the long-duration bond fund TLT lost almost 7% for the month; the gold fund GLD clipped for 4%. One bright spot -- the U.S. Dollar.
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