Meltdown

Dow Jones' Sorry January

A sign, perhaps, of the long year ahead: The Dow Jones Industrial Average fell 9 percent in January, closing today at almost exactly 8000 points. According to The Wall Street Journal, “Historically, stocks' performance in January has foretold how well the market will perform for the rest of the year.” The S&P, meanwhile, fell 2.3 percent in the same period of time. “When the S&P falls in January, the index loses an average of 2.4% in the next 11 months, according to data going back to 1950 from Ned Davis Research. When the S&P rises in January, the index posts an average gain of 12.3% in the subsequent period.”