Today marks the final day of the first quarter of 2018, and most investors will be happy to see it go. Both the the S&P 500 and the Dow Jones Industrial Average will finish down for the quarter, ending a nine-quarter streak of gains for both.
In the U.S., the stock market’s decline was widespread. Of the 11 primary S&P 500 sectors, nine of them posted negative returns over the quarter. The only two positive groups—technology and consumer discretionary—saw their gains come almost entirely from the so-called group of FAANG stocks: Facebook, Amazon.com, Apple, Netflix and Google.
Things were even worse around the globe. The STOXX Europe 600 Index was down 4.7 percent for the quarter, while Japan's Nikkei 225 Index dropped by 7.1 percent.
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