What's more surprising? That we're already nine years into the first decade of the 21st century, or that those first nine years are on pace to be the worst start to a decade since the 1930s? Unless we get a major rally to close out the year (15%+), this will only be the third time since 1900 that the Dow Jones posted negative returns in the first nine years of a decade (excluding dividends). In the 1910s the Dow declined by 17% from 1910 through 1918, but managed to salvage the decade with a 30% return in the final year. After the roaring twenties, the Dow declined by 38% from 1930 through 1938, and then capped it off with a 3% decline in 1939.
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