Wall Street is set to bid farewell Monday to 2018, a year for most assets, for some investors, can not end soon enough. But market participants may be closed to take heart in the fact that a letter is due on New Year's Day.
On Monday, both New York Stock Exchange and Nasdaq want to observe regular trading hours, closing at 4 p.m. Eastern time. Regular trade will resume on Wednesday, Jan. 2.
However, the Securities Industry and Financial Markets Association recommends a 2 p.m. 10-year Treasury note. Eastern close, one hour earlier than the norm, for bond trading, including the closely watched 10-year Treasury note
Most global financial markets will be closed on Tuesday, Jan. 1, 2019, for New Year's Day.
Stocks in the U.S. December 1931.
The Dow Jones Industrial Average
DJIA, + 0.80%
has declined 9.7% thus far in December, while the S & P 500 index
SPX, + 0.43%
is down 9.9% during the period, and the Nasdaq Composite Index
COMP, + 0.39%
is off 10.2% through Friday's close. Those declines would represent the worst monthly drops since October 2008, according to FactSet data.
For the year, the Dow is in line for a 6.7% loss, with the S & P 500 down 7% and the Nasdaq Composite on pace for a 4.6% fall.
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