NU Stock Analyst
Considering what the markets have done in the last few weeks, it is almost a relief to look back to June, although ordinarily the activity in that month would be nothing to write home about.
Indeed, June 2002 was also a month of a sell-off in the general market, which left investors biting their fingernails and dumping stocks. There were awesome displays of panic selling, spiced with a number of short but memorable rallies.
For the record, in June the Dow Jones Industrial Average ended down 6.87%, the S&P 500 was off 7.24%, and the tech-heavy NASDAQ plunged 9.33%.
Insurance stocks could not avoid being caught in the June swoon in the general market. But they made a good try. The 114 stocks priced here recorded a loss of 3.49% for the month. Unlike the general market, which went from bad to worse in June, our specialty had a few more advancers than in that ugly month of May.
Perhaps the best that can be said for insurance stocks in June is that they outperformed the general market!
All of the groups ended in the minus column. But two sectors–the brokers and the specialists–were off less than 1%. The rest made a mixed showing.