Top Stories
Top Stories
Markets

The stock market is on pace for its worst December since the Great Depression

VIDEO2:1202:12
Emotion moving market more than fundamentals, says CIO

Two benchmark U.S. stock indexes are careening toward a historically bad December.

Both the Dow Jones Industrial Average and the S&P 500 are on pace for their worst December performance since 1931, when stocks were battered during the Great Depression. The Dow and S&P 500 closed Monday down 7.6 percent and 7.8 percent this month, respectively.

December is typically a very positive month for markets. The Dow has only fallen during 25 Decembers going back to 1931.

The S&P 500 averages a 1.6 percent gain for December, making it typically the best month for the market, according to the Stock Trader's Almanac.

While the S&P 500 began dissemination in 1950, the performance data was backtested through 1928. It's worth noting that historically, the second half of December tends to see gains.

– CNBC's Gina Francolla contributed to this report.

WATCH: 'Bond King' Jeffrey Gundlach says S&P 500 has already entered bear market

VIDEO1:3501:35
'Bond King' Jeffrey Gundlach says S&P 500 has already entered bear market