Never mind finding coal in your stocking for the holidays. Wall Street investors scored a rare — and unwanted — gift this year.
The S&P 500 index SPX, +4.96% fell by 2.7% Monday, marking the first session before Christmas that the broad-market benchmark has booked a loss of 1% or greater — ever.
Bespoke Investment Group spotlighted this dubious S&P 500 record earlier in the day:
Prior to 2018, the S&P 500 had never declined more than 1% on the last trading day before Christmas.
That statistic has been confirmed by Dow Jones Market Data, which said the largest decline in the index on the trading day before Christmas was Dec. 23 in 1933.