Live Markets: Retail traders sit out volatile September as activity falls to lowest since late 2024

Vanda Pharmaceuticals

01/10/2026 15:49

Nasdaq, S&P 500 edge red, Dow off ~0.4%
Materials is the weakest S&P 500 sector; energy leads gainers
Euro STOXX 600 index down >1%
Dollar rallies ~0.4%; gold, bitcoin both slightly green; US crude up ~2%
US 10-year Treasury yield edges up to ~5.30%
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RETAIL TRADERS SIT OUT VOLATILE SEPTEMBER AS ACTIVITY FALLS TO LOWEST SINCE LATE 2024 
Retail traders chose to be on the sidelines last month, with data crunched by J.P.Morgan showing September as the weakest month for retail activity since December 2024. 
Monthly retail flows were about 10% below the last 12-month average in September, the Wall Street brokerage said in a weekly note. 
In dollar terms, net retail turnover -- the difference between buys and sells -- for all listed US securities in September was a positive $9.1 billion, the lowest figure since January 2020, a separate reading from Vanda showed.
Demand for exchange-traded funds (ETFs), widely used among mom-and-pop traders, was also subdued last month with monthly ETF flows soft, J.P. Morgan said. 
A separate analysis of Vanda data showed a net positive turnover of $8 billion for exchange-traded products last month, the lowest since November 2024. 
Among single stocks, chip designer Nvidia NVDA.O was the most net-bought stock last month, while Facebook parent Meta Platforms META.O was the most net-sold, as per Vanda. 
US stocks saw immense volatility last month as a host of factors hit equities. Crude oil prices surged amid no signs of a peace deal between the US and Iran, stoking inflation concerns and chances of future interest rate hikes by central banks. 
US government bond yields hit their highest in decades and warnings from AI industry heads about the risks of the technology also hit sentiment. The benchmark S&P 500 .SPX fell 0.4% for the month. 
     
(Shashwat Chauhan)
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