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October 2016 Market Commentary
Domestic and international equity indices finished lower for the month with the exception of emerging markets, which was fairly flat. Most global fixed income indices experienced negative returns. With the Fed remaining on the sidelines until after the election, markets have become increasingly volatile as uncertainty reigns.
For the month, the S&P 500 Index fell 1.8%, while the Russell 2000 Index of smaller companies declined by 4.8%. The utilities and financials sectors were the only positive performers, while the telecommunications, healthcare and energy sectors were the weakest performing sectors. Across market capitalizations, small-cap securities generally underperformed their large- and mid-cap counterparts. Across styles, value outperformed growth across all market caps.