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Advanced Planning Wealth Management Group

Stocks Wrap Up the First Quarter With Double-Digit Declines

To say that a lot has changed in the last month is the understatement of the year, or perhaps a lifetime; it seems our lives are changing by the hour. We hope to be a voice of calm in times of uncertainty, so we wanted to share the latest article from Raymond James’ investment thought leaders. Here’s the gist.


  • The markets are playing a weak supporting role to the worst healthcare challenge in our generation, as well as the worst economic problem since 2008.
  • Policymakers are unleashing all the tools at their disposal to essentially “buy time” for the economy while we await medical solutions, explains Raymond James Chief Investment Officer Larry Adam.
  • The $2 trillion stimulus package includes programs, loans, funding and direct payments to help keep the recession shallow, and when the crisis passes, these could be the key components of very strong recovery & growth.
  • Stocks, particularly healthcare names, rallied slightly as testing became more available and the stimulus package passed. However, it wasn’t enough to make up for the substantial losses seen throughout the month.
  • The S&P 500 lost -12.5% for March, while the Dow Jones and Nasdaq delivered  -13.7% and -10.1% respectively. For the quarter, all three domestic indices ended well into negative territory.



12/31/19 Close

3/31/20 Close

Year to Date

% Gain/Loss Year to Date











S&P 500










Russell 2000





Bloomberg Barclays Aggregate Bond






Performance reflects price returns as of market close on March 31, 2020.


Wishing you and your family continued good health. Take care of one another. Thank you for your trust in us.



Rod L. Smith, LUTCF

Managing Director, APWMG

Financial Advisor, RJFS


Investing involves risk, and investors may incur a profit or a loss. All expressions of opinion reflect the judgment of Raymond James and are subject to change. Economic and market conditions are subject to change. The Dow Jones Industrial Average is an unmanaged index of 30 widely held stocks. The NASDAQ Composite Index is an unmanaged index of all common stocks listed on the NASDAQ National Stock Market. The S&P 500 is an unmanaged index of 500 widely held stocks. The MSCI EAFE (Europe, Australia, Far East) index is an unmanaged index that is generally considered representative of the international stock market. The Russell 2000 is an unmanaged index of small cap securities. The Bloomberg Barclays US Aggregate Bond Index is a broad-based flagship benchmark that measures the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market. An investment cannot be made in these indexes.

Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC.


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