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U.S. stocks post worst year in a decade as the S&P 500 falls more than 6 percent in 2018


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"But fuck Trump, amirite? Who wants to make all this money anyway?"

 

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Wall Street concluded a tumultuous 2018 on Monday as the major stock indexes posted their worst yearly performances since the financial crisis.

 

After solid gains on Monday, the S&P 500 and Dow Jones Industrial Average were down 6.2 percent and 5.6 percent, respectively, for 2018. Both indexes logged in their biggest annual losses since 2008, when they plunged 38.5 percent and 33.8 percent, respectively. The Nasdaq Composite lost 3.9 percent in 2018, its worst year in a decade, when it dropped 40 percent.

 

The S&P 500 and Dow fell for the first time in three years, while the Nasdaq snapped a six-year winning streak. 2018 was a year fraught with volatility, characterized by record highs and sharp reversals. This year also marks the first time ever the S&P 500 posts a decline after rising in the first three quarters.

 

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“The threat of an escalating trade war has chilled US business confidence, with managers uncertain as to if/how they should restructure global supply chains,” Nicholas Colas, co-founder of DataTrek Research, wrote in a note to clients.

 

“The most bullish case here is that the tariff issue will be settled in Q1 2019, and a meaningful resolution should be enough to trigger a first half rally for stocks,” Colas added.

 

“Against that optimistic take are two bearish outcomes: one, that these negotiations take longer and two, that they fail outright.”

 

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