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3rd Quarter Market Commentary

U.S. and overseas equity markets experienced increased volatility throughout the third quarter as mixed economic reports heightened investor concerns over a global growth slowdown.

For the quarter, the S&P 500 Index advanced 1.1% while the Russell 2000 index of smaller companies slid 7.4%. Information technology, health care, and telecommunications were among the top performing sectors, while energy, industrials, and utilities lagged. Across market capitalizations, large-cap stocks outperformed mid- and small-cap stocks. Growth stocks outperformed their value counterparts.

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