(Fred Imbert – CNBC)
President Donald Trump told reporters Wednesday that there was a “glitch” in the stock market last month, but that equities should recover as the U.S. completes trade deals with countries like China.
The S&P 500 dropped more than 9 percent for its worst December performance since 1931. Those losses also pushed the broad stock index to its worst annual performance since 2008 — when it plunged more than 38 percent. For 2018, the S&P 500 pulled back 6.2 percent.
Equities fell sharply in December as investors grappled with fear that the Federal Reserve might be making a monetary policy mistake, worries about a possible economic slowdown, and ongoing trade negotiations between China and the United States. Click here to read more.
- Stock Market Sell-Off Was Due to a ‘Glitch,’ Says Trump (NBC News)
- Trump Says the Market’s Recent Sell-Off Was Just a ‘Little Glitch’ After Stocks Post the Worst December Since the Great Depression (Business Insider)
- Trump, Xi Declare Progress on US-China Trade Talks (Globe & Mail)
- Dow Jones Futures Tumble To Open 2019 Stock Market; Trump Says ‘Let’s Make A Deal’ (Investors Business Daily)