October ended as one of the worst months since the 2008 financial crisis. The S&P 500 lost $1.91 trillion in October. Losses were spread widely across industry sectors. October was the worst month for the S&P 500 since September 2011.
Federal Reserve Chairman Jerome Powell said the central bank is “a long way” from neutral interest rates. Powell said the Fed does not need the policies put in place that pulled the economy out of the last financial crisis. He declared that “we don’t need” the “really extremely accommodative low interest rates” the central bank put in place a decade ago. The Fed is likely to raise the federal funds rate to 3.4 percent before pausing, according to the most recent projections.
Big technology stocks — most well-known as FANG —Facebook, Amazon, Netflix and Google parent Alphabet — were among the hardest hit. Amazon ended the month down 20.2 percent, and Netflix ended down 19.3 percent. Investors fled both after earnings reports. Facebook and Alphabet finished October down 7.7 percent and 9.7 percent, respectively.
FANG has lost $300 billion in market value since mid-September this year. The Dow Jones Industrial Average closed down 13 days in October.
FINRA arbitration is a dispute resolution process used in the financial industry to settle disputes between investors, brokerage firms, and registered representatives. Administered by the Financial Industry Regulatory Authority (FINRA), this process offers a faster and less formal alternative to traditional court litigation. Arbitration involves a neutral third-party arbitrator or panel who reviews the evidence and arguments from both sides and makes a binding decision. Unlike court proceedings, arbitration does not involve juries, and the arbitrator’s decision is typically final, with limited grounds for appeal. This method is commonly used for resolving issues such as alleged misconduct, breach of contract, and other disputes related to investment accounts. FINRA arbitration aims to provide a fair and efficient resolution, ensuring that parties can resolve conflicts without the need for prolonged litigation. This process is particularly significant for maintaining trust and integrity in the financial markets.