Dow Jones: Worst June Since Depression

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As a cheerful Bloomberg headline reminds us, equity investors are facing their worst June since the Great Depression. And sure enough, most major markets (the Hang Seng, Dax, CAC, S&P 500 … ) are down more than -8% this month, pulled lower by a number of concerns including a) the health of Western banks, b) the rise in oil prices, c) deteriorating economic growth and d) worsening inflationary pressures.

If the current month ended today the Dow Jones Industrial Index would be down 9.4% and have locked in the worst June since 1930. Check the following chart, coursey of Paul Kedrosky, for the painful picture.

pk1.jpg

“Granted, June 2008 is not in the top 30 bad months of all time, so let’s keep our heads on, but if it feels like it’s been a nasty, nasty month, that is because it has been,” said Kedrosky.

Source: Paul Kedrosky’s Infectious Greed & Bloomberg, June 26, 2008.

 

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1 comment to Dow Jones: Worst June Since Depression

  • Marilyn Kim

    Heard about this endlessly on TV yesterday and will no doubt the media will sparse the subject further over the weekend…. enough!

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