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For the latest business news and markets data, please visit CNN Business. Even though the Dow surged points on Friday, it still lost 5. That is the deepest monthly decline since the freakout of last August. January got off on a terrible note, with panic about the Dow Theory Of Stock Market slowdown in China and crashing oil prices sending the Dow to its worst day start to a year on record going back to The independent market strategist pointed to "extreme fear" about the meltdown in oil prices and plunging stock prices in China.
Investors sold stocks of all stripes, including ones in the previously-booming tech world. The selling was more about sentiment than a change in the actual fundamentals," said Russ Koestrich, global chief investment strategist at BlackRock. But the good news for U. The Dow finished the month 1, points higher than its lowest point of 15, on January The rebound was driven by a series of factors, including a realization that if the U.
We took valuations to the point where people were willing to dip their toe back into certain markets," said Koesterich.
Wall Street also managed to decouple a bit from the chaos in China. Investors may have finally realized that China's ultra-turbulent stock market isn't a great proxy for what's actually going on in the world's second-largest economy. Related: Investors should focus on China's economy, not stocks. The other big thing that happened was crude oil prices stopped crashing. That was good because Wall Street has become obsessed with the day-to-day moves in the oil market, for better or worse.
It's been fueled by a focus on the many downsides to cheap oil : plunging energy profits, trouble for junk bonds, job losses in the oil patch and trouble in emerging markets. In the end, all three major indexes notched healthy gains in The Dow was up The problem was that a lot of things didn't follow the script," said Michael Block, chief market strategist at Rhino Trading Partners.
Related: 5 stocks to buy in The bull market in U. But started scary. The Dow dived 1, points in the first week because of concerns about China's economic slowdown and plunging oil prices.
Related: Trade war is Wall Street's top Trump fear. The panic ended. By mid-March, the Dow was up for the year, and the bull market was back on track. Then the political shocks came. First there was the unexpected decision by British voters to leave the European Union. Brexit caused the British pound to crash and sent the Dow spiraling down points in a single day. Dow futures plunged more than points on election night as it became clear Clinton would lose unexpectedly.
That reaction seemed to confirm predictions that a Trump victory would cause a stock market crash. But the Trump selloff proved fleeting.
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