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.
(Trump's full remarks weren't readily available but will be added when available.)
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.
China and the U.S. agreed to a 90-day grace period on Dec. 1 to try and strike a permanent trade agreement. Both countries have slapped tariffs on billions of dollars worth of their goods.
This is a developing story. Check back for updates.
Watch: Stocks open the new year on a down note — Here's what three experts say investors should watch out for
0 Comments