The fourth quarter of 2018 was negative for global stocks. In the U.S., the S&P 500 sank 13.5% for the quarter, erasing the year’s gains. Growth oriented stocks generally fell harder than more value-oriented names; however, both were down over 10%. Smaller companies in the U.S. did particularly poorly. The Russell 2000 declined 20.2% and ended the year down 11%.
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