Volatility best describes last week in the market, as each of the benchmark indexes listed here lost value. Apparently, investors may be having trepidations about ongoing business growth and fear that the economy is slowing. Declining oil prices have also contributed to diminishing stock index values. Even optimistic rhetoric between the United States and China wasn’t enough to quell investors’ concerns.
Following last week’s slide, the indexes listed here are moving closer to their 2017 year-end values. In fact, the small caps of the Russell 2000 have given back all of the gains garnered during the year and are now below last year’s closing mark. Even the Nasdaq, which has led the way for much of the year reaching double-digit year-to-date gains, is now only roughly 5.0% ahead of its 2017 year-end value. Long-term bond prices rose as the yield on 10-year Treasuries fell 12 basis points last week.