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Mark Hulbert: Daylight saving time could give investors some sleepless nights

Not looking forward to this weekend’s shift to daylight saving time?

You’re not alone. Here’s yet another reason to dislike it: the shift is likely to cause the stock market to struggle this coming Monday.

That is the implication of a study, “Losing Sleep at the Market: The Daylight-Savings Anomaly,” that appeared some years ago in the prestigious American Economic Review. The study found that stock market returns around the world are below-average on the Monday following shifts to daylight saving.

Since these below-average returns are the result of countless investors’ individual decisions, it’s impossible to know what causes them.

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