According to Art Cashin, there is further downward pressure on the market, which could come from unusual sources. “October is a trough month, and it usually comes after some kind of peak decline. … We’re going to hit a trough sometime in October,” UBS’s head of floor operations told CNBC’s “Squawk On.” He spoke on The Street. on monday. Stock prices have almost fallen since October. The Dow Jones Industrial Average fell more than 200 points in midday trading, and the S&P 500 fell 0.4%. These declines come after Wall Street ended a rough month last week. The S&P 500 suffered its worst monthly decline of the year in September, and the Dow Jones Industrial Average suffered its biggest monthly decline since February. Cashin noted that billions of dollars in tax payments previously deferred by the Internal Revenue Service due to storm and weather-related damage in several states could put further pressure on the market. . Payments are due by October 16th for Californians living in certain disaster areas that triggered the IRS extension. This could “strain” the banking system and liquidity, impacting bonds and stocks, Kassin said. “Get ready for adventure this month,” he said. Cashin also pointed to rising U.S. Treasury yields as another source of pressure on the market. The yield on the benchmark 10-year Treasury note hit a 2007 high of about 4.7% on Monday, but has since fallen. He said if the 10-year note rises towards that level again, it will put pressure on stocks, and if it stays around 4.6% it will give individuals a “sigh of relief.” Yields rose on Monday as investors sold safe-haven government bonds on news of a short-term deal to avert a government shutdown. Cashin noted that in addition to tax deferrals and yields, student loan repayments begin this month and personal pandemic relief funds are starting to dry up, which is draining money from the banking system.