Dec 31, 2018 - Business

Stock market ends worst year in a decade

Traders work on the floor of the New York Stock Exchange on Monday. Photo: Spencer Platt/Getty Images

The stock market made some gains Monday, but still ended the year with its worst performance since the 2008 financial crisis, AP reports. The S&P 500 was down 6.2% at the end of the year, and the Dow Jones Industrial Average was down 5.6%.

Between the lines, per Axios' Courtenay Brown: The crisis-era comparison sounds scary, but this is a very different market than it was in 2008, when the S&P fell 35%. The Dow and the S&P 500 also had the worst year since 2008 back in 2015. Look how well the stock market has done since then.

What's next

Honoring Kobe Bryant: Sports stars, politicians and celebrities mourn NBA great

Kobe Bryant on court for the Los Angeles Lakers during the Sprite Slam Dunk Contest on All-Star Saturday Night, part of 2010 NBA All-Star Weekend at American Airlines Center in Dallas in February 2010. Photo: Jed Jacobsohn/Getty Images

Sports stars, politicians and celebrities paid tribute to NBA legend Kobe Bryant, who was killed in a California helicopter crash alongside his 13-year-old daughter, Gianna, and seven others on Saturday. He was 41.

What they're saying: Lakers great Shaquille O'Neal said in an Instagram post of his former teammate, "There's no words to express the pain I'm going through now with this tragic and sad moment of losing my friend, my brother, my partner in winning championships, my dude and my homie. I love you brother and you will be missed."

Bolton alleges in book that Trump tied Ukraine aid to investigations

Photo: Alex Wong/Getty Images

President Trump's former national security adviser John Bolton alleges in his forthcoming book that the president explicitly told him "he wanted to continue freezing $391 million in security assistance to Ukraine until officials there helped with investigations into Democrats including the Bidens," the New York Times first reported.

Why this matters: The revelations present a dramatic 11th hour turn in Trump's Senate impeachment trial. They directly contradict Trump's claim that he never tied the hold-up of Ukrainian aid to his demands for investigations into his political opponent Joe Biden.

Impeachment: Then & now

Illustration: Sarah Grillo/Axios

We are living in a measurably different political and media landscape than when the Senate acquitted President Bill Clinton of impeachment charges in 1999.

The big picture: These dynamics are setting the pace as President Trump’s legal team speeds through arguments to seek a fast acquittal.