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 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.
S&P 500: Snapping a win streak in February
S&P 500 down 3.9 percent
Worst since January 2016
Snapped 10-month win streak
Last 10-month win streak: February 1959
Source: CNBC
It wasn't just a wild month in the U.S. Overseas, a lot of long-term trends fell, too. Let's start in Asia. China's Shanghai and Hang Seng exchanges turned in their worst months since January 2016.
Elsewhere in Asia, Japan's Nikkei was down 8.5 percent, its worst month since June 2016, while Korea was down 5.4 percent, its worst month since June 2013. Even India dropped 5 percent, its worst month since February 2016.
Asia exchanges also struggled in February
Shanghai: down 6.4 percent, worst since January 2016
Hang Seng : down 6.2 percent, worst since January 2016
Japan: down 8.5 percent, worst since June 2016
Korea: down 5.4 percent, worst since June 2013
India: down 5 percent, worst since Feb. 2016
Source: CNBC
It wasn't any better in Europe. Germany was down 5.7 percent, its worst month since January 2016. Spain was down 5.9 percent, it's worst month since January 2016, as well, and Italy was down 3.8 percent, its worst month since June 2016
European exchange February frost
Germany down 5.7 percent, worst since January 2016
Spain down 5.9 percent, worst since Jan. 2016
Italy: down 3.8 percent, worst since June 2016
Source: CNBC
Get the picture? The whole world was down 5 percent to 8 percent. Makes you glad to be back in the U.S., where we only dropped 3.9 percent.
So does this mean March will be a mess as well? Not necessarily. Our partners at the hedge fund analytics tool Kensho noted that in past Februarys when the S&P dropped more than 2 percent, the index was positive in March 67 percent of the time, with an average gain of 1.8 percent.
Disclosure: NBCUniversal, parent of CNBC, is minority investor in Kensho.
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