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Trump Says There Was a Stock Market ‘Glitch’ in December, but Will Rise When Trade Deals Fixed

Posted January 02, 2019

Under Economic Issues, International Trade Issues

(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.