U.S. stocks in 2018 suffered their worst annual performance in a decade after closing on Monday. Despite making gains on Monday, the S&P 500 finished 2018 down 6.2 percent, while the Dow Jones Industrial Average was down 5.6 percent.
Those drops marked the worst year for U.S. stocks since the 2008 financial crisis, when the S&P 500 fell 38.5 percent and the Dow dropped 33.8 percent.The S&P 500 and the Dow also fell 13.97 percent and 12 percent in the quarter, according to CNBC.
A spokesman for House Minority Leader Nancy Pelosi (D-Calif.) used the stock market’s performance to criticize GOP tax cuts that were passed last year.” ‘Tax cuts are working’ #GOPTaxScam,” Henry Connelly tweeted.
Stocks slid significantly in December amid concerns over President Trump‘s trade war with China, Trump’s attacks against the Federal Reserve and the current partial government shutdown.The S&P 500 and the Dow each recorded their worst December since 1931 and their largest monthly losses since 2009, CNBC reported.