This translation has been automatically generated and has not been verified for accuracy.On Jan. 3, the S&P 500 sank 2.5% when Apple warned of sagging demand for the iPhone, an inauspicious start to 2019 following a 14% drubbing in last year’s fourth quarter.
January’s swing helped set the tone for a year in which the market responded to every downturn with a more sustained upswing. Along the way, stocks kept setting records — 32 of them for the S&P 500 by Dec. 20, and 19 for the Dow Jones Industrial Average.By its final policy meeting in December, the Fed had completely reversed course and cut rates three times in what Powell called a pre-emptive move against any impact a sluggish global economy and the U.S.-China trade war might have on U.S.
globeinvestor Unsustainable
globeinvestor Record inequality. Stagnant wages.