1st Quarter 2008 Ends Ugly
The stock market finished up its first quarter of the 2008 calender year with a positive note for the day, but the quarter overall was a mess.
The S&P 500 lost 10% for the first three months of 2008 as worries of a recession and a subprime crisis has lead to continuous selling. This round goes to the bears.
Below is a chart of the S&P 500 over the last three months, notice the steady downtrend of prices:
Can the market make a comeback in the 2nd quarter of 2008? Only time can tell.
The 2nd quarter looks to be off to a somewhat optimistic start. And, of course, Ben Bernanke thinks we’ll begin to see a recovery by the end of the year. (Whatever that’s worth.)