NEW YORK, N.Y. -- Investors might be excused for wishing August away and rooting for the arrival of September.
This has been a bad month for the stock market. At the start of the month, the Dow Jones industrial average and Standard & Poor's 500 index hit all-time highs.
Now the market is down 4 percent from its peak, and August is on track to be the Dow's worst month since May 2012.
The Dow yesterday posted in its fifth straight day of losses. It's the first time that's happened this year. While the S&P 500 and Nasdaq composite index did rise modestly, it was first time in four days those indices have seen green.
Market observers say the stock market slide in the last couple of weeks reflects a shift in investor strategy that began in the bond market and spilled into stocks. The spillover then mixed with lingering concerns about the U.S. economy, leading to the last several weeks of volatility.