Tuesday, April 10, 2018 » First Quarter 2018 Market Commentary Market Commentary, Commentary The U.S. Equity Market: The U.S. stock market, represented by the Wilshire 5000 Total Market IndexSM, was down -0.76% for the first quarter of 2018. This marks only the second negative quarter in nearly six years. Market volatility returned after a tranquil 2017. While the market never experienced a daily loss of 2% or more last year, there were five such down days during the first quarter of 2018, including a 4% loss in early February. Ironically, it was mostly good news on the economic front that caused much of the volatility. Strong jobs reports and wage growth had investors rethinking their inflation expectations and led to concerns that the Federal Reserve might accelerate increases in its short-term rate.