The stock market is on track for its worst December since the Great Depression


Stocks fell across the board again Monday, and they show no sign of recovering before the holidays.
As markets closed Monday, the S&P 500 showed a 2.08 percent loss for the day, marking its lowest level since October 2017, per The New York Times. The Nasdaq Composite fell 2.27 percent, and the Dow Jones Industrial Average saw another 507-point loss for the day, solidifying its worst month since May 2010, CNBC's Carl Quintanilla says.
Markets have suffered volatile declines for the past month, despite a "Santa Claus" rally typically propelling stocks upward at the end of the year, Yahoo News says. This year, it seems fears of a Federal Reserve rate hike later this week has ensured stocks remain on their downward trend. News that a federal judge ruled the Affordable Care Act unconstitutional last week also led to uncertainty within the health care sector, per The Washington Post. Tech and energy stocks also fell on Monday amid major sell-offs.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
If this downward trend continues, the S&P and Dow will have their worst December performances since the Great Depression, CNBC projects. Experts say there's still time for a year-end rally, so long as the Federal Reserve pulls through with a market-boosting announcement this week.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Kathryn is a graduate of Syracuse University, with degrees in magazine journalism and information technology, along with hours to earn another degree after working at SU's independent paper The Daily Orange. She's currently recovering from a horse addiction while living in New York City, and likes to share her extremely dry sense of humor on Twitter.
-
Illicit mercury is poisoning the Amazon
Under the Radar 'Essential' to illegal gold mining, toxic mercury is being trafficked across Latin America, 'fuelling violence' and 'environmental devastation'
-
Israel faces international anger as Gazans starve
Feature World leaders pressure Israel to let in aid as famine spreads across Gaza
-
Redistricting: How the GOP could win in 2026
Feature Trump pushes early redistricting in Texas to help Republicans keep control of the House in next year's elections
-
Samsung to make Tesla chips in $16.5B deal
Speed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance merger
Speed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profits
Speed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new high
Speed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
-
Economists fear US inflation data less reliable
speed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
-
Crypto firm Coinbase hacked, faces SEC scrutiny
Speed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress code
speed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirement
speed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement