The Stock Market Is Back where it was One Year Ago
August 6, 2019
A volatile twelve months of ups and downs have amounted to very little growth, as the stock market today is exactly where it was one year ago. The S&P 500 today is trading at 2,851.7. One year ago, August 6, 2018, it closed at 2,850.4.
The last twelve months have seen a lot of volatility in the stock market. Last summer, it was cresting from a big corporate tax break. Then, trade tensions with China, anxiety about a global slowdown, and an interest rate increase from the Fed triggered a massive selloff, resulting in the worst December since the Great Depression. The markets rallied at the beginning of the year, but the ongoing trade war has made the rebound a volatile one. The Fed recently cut rates, but it seems to have been too little to settle the markets.