What is your outlook for 2019?
By Alfred Lam, CFA
Senior Vice-President and Chief Investment Officer, Multi-Asset Management
Happy new year! We wish you and your family a joyful and healthy year. 2018 was a turbulent year for stock markets. The year started strong with most equity indexes reaching new highs in the first quarter. The S&P 500 Index had the strongest momentum, peaking at 11.2% at one point but finishing the year at -4.4%. A similar pattern could be found in other equity indexes, as shown in the table below. Compared to 2017, there were also wider daily and intra-day moves. In 2018, there were 2 instances where the S&P 500 Index lost more than 1% on a daily basis. In 2017 there were only four instances.
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