2020 Quarterly Insert

As countries and economies around the world came to a standstill with the rapid spread of the COVID-19 pandemic, global markets plunged, falling over 22% through March. From its peak on February 19 to its bottom, the S&P 500 (US Stock Market) fell over 34%, resulting in the fastest decline into a bear market in history. This extinguished the 11-year bull market that began in March of 2009, coming out of the global financial crisis. All asset classes, even some areas of the Fixed Income markets, experienced declines during the quarter.