Today was the worst decline on record going back to 1998 for the Standard & Poor’s 500 following a monthly jobs report, observe our friends at Bespoke Investment Group this afternoon.
The S&P fell 38 points, or 3.44%, to close at 1,064.88.
According to Bespoke’s data, on a day when the S&P falls following a jobs report, whether the report was better or worse than expected, the average return on the S&P the following week is a decline of 0.75%.
But take heart: the average gain in the month following the jobs day decline is 1.19%!
Source: Barron's Blog
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