On Track for a Twain Wreck

Posted On Oct 1, 2021 By Addison Wiggin

The tenth month has gained a reputation for being particularly volatile on Wall Street. Some investors even call it the “Mark Twain Effect.” The Panic of 1907 happened in October. The market crash that kicked off the Great Depression occurred on Oct. 24, 1929. Black Monday was Oct. 19, 1987. Then there was the “mini-crash” on Oct. 27, 1997. The bear market of the Great Recession started on Oct. 11, 2007. Will this October add a new date to that infamous list? The dips we saw in September certainly feel like the preamble for bigger slides in the weeks ahead. It seems even more likely when we consider the many unresolved problems facing the markets — Evergrande… the debt ceiling… the Federal Reserve’s taper plans.

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