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Market Extra: Don’t sweat a stock-market selloff with midterms around the corner, says strategist

The stock market remained in the grip of the bears Thursday, with all major benchmarks falling in tandem. But strategists like Ryan Detrick at LPL Research were sanguine about the retreat given the market’s tendency to save the best for last during midterm years.

“On average, the S&P 500 actually has been negative year to date in early October during a midterm year,” said Detrick, in a note. “Importantly, markets can be jittery ahead of major events like elections. Once the uncertainty is resolved in November, solid fundamentals and strong seasonals could take over for a nice year-end rally.”

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