Well that was an ugly close. What happened? A combination of a big drop in oil, a substantial amount of sell orders at the close and a strengthening dollar brought stocks to the lows of the day.
The S&P dropped 10 percent in the middle of the month but only ended February down 3.9 percent. Still, it was the worst month in two years as we snapped a 10-month win streak. The last time we did that was 1959. The Dow didn't do any better. It registered its first February decline in nine years.