FMA Market Update – October 2016 Edition

October 3, 2016  |  

The financial markets began the fourth quarter of the year on a sour note, reflecting uncertainty and national frustration surrounding the most dispiriting and divisive election in memory. The S&P 500 Index dropped 1.9%, while the Dow Industrials trimmed 0.9%, and small cap stocks lost 2.3%. The decline was broad based, with nine of eleven sectors in the S&P posting negative returns. Only utilities and financials were higher at month end. Interestingly, bond investors also shared in the pain, as U.S. Treasury Bonds sold off, lifting yields on the 10-year UST from 1.6% to 1.8% by month end. Even international stocks got in on the action, with the EAFE Index falling 2.0%.  Read More…