Stocks Drop In 2018 Suffering Worst Decline Since 2008

(CBS NEWS) - Stocks ended the year in the red, a downturn not seen since the height of the financial crisis a decade ago. The market gyrations have left investors both poorer and apprehensive about what's to come, with some analysts questioning whether 2019 could usher in a "bear" market or even another recession.

The year concluded in an almost polar-opposite mood to the frothy optimism of early 2018, when President Donald Trump's tax cut was projected to boost consumer spending, supercharge corporate profits and burnish investor portfolios. When the Dow jumped 5 percent in January, Mr. Trump touted his policies' impact on the market and broader U.S. economy.

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Traders work on the floor of the New York Stock Exchange (NYSE) on the last day of the trading year on December 31, 2018 in New York City. Despite a continued strong economy and low unemployment, 2018 proved to be a volatile year in the financial markets with numerous record breaking trading sessions.The Dow finished up over 250 points on the final day of 2018. (Photo by Spencer Platt/Getty Images)

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