The rally got mugged by economic realities and a global slowdown

So much for the rally. On Thursday, the S&P 500 got within 2.4 percent of its historic high only to tumble on Friday. We got mugged by slower global growth again.

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Apple CEO Tim Cook speaks during an Apple launch event in the Brooklyn borough of New York, October 30, 2018. A smartphone displays the Bitcoin GBP market value on the stock exchange via the Yahoo Finance app.