December was very volatile for the markets and 2018 turned out to be the worst year for the markets since the financial crisis of 2008. Globally, equity markets were down everywhere other than some exceptions like in India, the UAE and New Zealand.
All major U.S. indexes ended down for the year. The S&P 500 ended down 6.2% for the year, the Dow Jones Industrial Average down 5.6% for the year and the Nasdaq Composite down 3.9% for the year.
In Europe, the U.K.’s FTSE index was down 12% during the year. Germany’s DAX was down 18% during the year and France’s CAC down 11% during the year.
Asia was largely down during the year with Hong Kong’s Hang Seng index down 13.6% during the year. Japan’s Nikkei 225 Index was down 12% for the year and Australia’s benchmark index ended down 6.9% for the year. China’s Shanghai composite was down 24.7% for year. India was an exception with the benchmark indexes up around 6%.
Missing Fiscal Prudence