THE ECONOMY: As of December 2018
It was a tough way to close out the year for stocks, as fears of a global slowdown heading into 2019 and the Federal Reserve tightening monetary policy too quickly weighed on markets. The S&P 500 was down 9.03%, marking it one of the worst Decembers on record. International and emerging markets held up better, falling 4.85% and 2.66%, respectively. Interest rates fell as investors looked for safety, with the 10-Year U.S. Treasury yield ending the year at 2.69%, down from above 3% a month prior.