This chart shows why October has such a scary reputation on Wall Street

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There may be one reason why investors fear October so much despite stocks averaging a gain this time of the year: It tends to be the most volatile month of the calendar.

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On average, the S&P 500 posts a daily move of at least 1 percent in 10.3 percent of October’s trading days, according to data from CFRA Research going back to 1950. That’s more than any other…

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