'Grinch-like' US stocks are on course for their worst December since the Great Depression

US stock markets are set for their worst December since 1931, when the country was in the throes of the Great Depression.
The S&P 500 has lost nearly 8% of its value this month, eclipsing the 6% fall witnessed during the final month of 2002.
Traditionally, stocks climb into the year-end in what is known as a "Santa rally" — a phenomenon in which stocks rise in December as investors are filled with festive cheer and optimism.
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