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Stocks Log Worst January Ever

US stocks continue to fall. Yesterday saw across the board declines that capped the worst January on record: The Dow Jones declined 9%, while the S&P fell 8.8%, and the Nasdaq dropped 6.5%.

Common sense on the street dictates “As goes January, so goes the year”.  If that is the case, it’s going to be tough, and possibly quite ugly for the rest of the year..

CNBC points out the 2nd-worst January was 1916, when the Dow dropped 8.6 percent.

S&P is at 825 at yesterday’s close. The inability to hold above the 850 level for even a day is very troublesome, suggesting that a visit back to November lows, or possibly worse, are certainly in the realm of possibility.