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ASSESSING RECENT MARKET DECLINES 

ASSESSING RECENT MARKET DECLINES

Key Factors & Historical Context

December 2018

On December 4, equity markets fell sharply as investor optimism faded over the recently struck 90-day tariff truce between the U.S. and China. The S&P 500 Index and Russell 2000 Index slumped -3.2 percent and -4.4 percent for the day, respectively. Tuesday’s activity marked a sharp reversal from just a day earlier, as equities had gained more than 1 percent on Monday over hopes that the U.S. and China might find an amicable solution to long-running trade disputes. Over the past year, investors have become increasingly concerned that the U.S.-China trade impasse could escalate into a broader trade war, which could have negative implications for global growth and notably at a time when global economic data has been weakening.

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