The most tumultuous year for the markets and exchange traded funds (ETFs) has come to a quiet, but positive, close.
The Dow Jones Industrial Average ended 2008 with a two-day winning streak, but was still down for the year by 33.8%. It was the Dow’s worst annual performance since 1931, when the Great Depression was in full force. The S&P 500 this year lost 38.5%, while the Nasdaq fell 40.5%.
For the month of December, the Dow was up 7.7%, S&P 500 closed up 10.7% and the Nasdaq rose 12.8%.
European markets gained about 20% this month. Asia rose about 16%, and Latin America gained about 14.9%. The top sector for the month was gold miners, which rose 50.6%. The weakest sector was oil, which lost 18.9%.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.