April 6, 2018

The new year began much like the last one ended, with markets closing at record highs seemingly every day. Then, without warning, volatility came roaring back. On Friday February 2, the Department of Labor issued its monthly report, which merely hinted that wage growth might finally be picking up. The Dow plunged an ominous 666 points. After taking the weekend to stew over what was actually a fairly pedestrian report, markets opened Monday in near panic, plunging 1600 points (6%) before recovering slightly to end down 1175, the largest ever one-day point drop. By the end of the week, the market was in an “official” correction, down more than 10% from the January 26 peak. That week began a period in which the market traded up or down at least 1% in 14 out of 19 trading days. For some context, the market made a 1% move only 10 times in all of 2017. Last quarter’s column discussed the ext...

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Marble Trail Financial is a joint venture of Addison Advisors LLC dba Marble Trail Advisors, Davis Associates,  and Misasi & Company LLC. Investment advisory services are provided by Marble Trail Advisors, a registered investment adviser, and tax preparation and accounting services are provided by Davis Associates and Misasi & Company LLC.

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