Wall Street Faces Historically Weak September After Record-Setting August for S&P 500
US stocks and cryptocurrencies begin September facing their weakest month on record. The S&P 500 closed August with gains of more than 2% and set record highs along the way.
Bitcoin (BTC) and Ethereum (ETH) also finished the month strongly, gaining 24.95% and 32.5%. Historical data now points to a tougher stretch for both markets.
Stocks Carry a Long September Losing Record
The Dow Jones Industrial Average has fallen an average of 0.8% in September since 1950, according to the 2026 Stock Trader's Almanac. The S&P 500 has shed 0.7% over the same span.
The Nasdaq Composite has dropped 0.9% since 1971, and the small-cap Russell 2000 has lost 0.8% since 1979. Bank of America data dating back to 1928 show an average September S&P 500 loss of 1.17%, with the index falling in 56% of those years.
Almanac authors Jeffrey Hirsch and Christopher Mistal tie the pattern to fund behavior after the summer break.
"Portfolio managers back after Labor Day tend to clean house in September," they said.
This follows a strong August for stocks. The S&P 500 rose more than 2% and closed at a record 7,798.99 on August 13, its 27th record close of 2026. The Dow added over 1%.
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