Reflections on 2020
Thursday, 31 December 2020
This past year was one for the record books, both for the stock market and for the greater economy. The year began fairly well, with the S&P 500 hitting a record high on February 19. COVID concerns soon impacted the market and the S&P dropped 34%, bottoming out on March 23. State and Federal officials soon initiated the CARES Act and the Paycheck Protection Program, lending to economic recovery and the S&P’s fastest recovery in history. The end of the third quarter was still characterized by market uncertainty, but the fourth quarter brought more growth, with small-cap stocks particularly strong. Though there are still disruptions in the broader economic recovery, the distribution of several viable COVID vaccines is fueling optimism as we move into 2021.
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