The stock market is on pace for its worst December since the Great Depression
Two benchmark U.S. stock indexes are careening toward a historically bad December.
Both the Dow Jones Industrial Average and the 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.
White House advisor Fauci says coronavirus vaccine trial is on target and will be 'ultimate game changer'
Coronavirus live updates: US deaths surpass 5,000, Russia reports record daily spike in cases
Coronavirus epicenter could 'possibly' shift back to Asia, says public health expert
Saudi Arabia's big oil gamble will hurt the kingdom — but it'll likely pay off
Who's eligible for COVID-19 stimulus checks? Your questions, answered