For the U.S. equity market, December 2018 statistics are reminiscent of the great financial crisis. For the S&P 500, the month of December was its worst in several years and across several dimensions. The index wrapped up 2018 with its highest monthly volatility since August 2011 and its worst monthly return since February 2009. Not a single sector offered a positive return for the month. Interest rate sensitive utilities generated the smallest loss while energy stocks, weighed down by falling oil prices, were the biggest losers.
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Milliman FRM Insight: December 2018 Market Commentary
For the U.S. equity market, December 2018 statistics are reminiscent of the great financial crisis.