Answer:
Step-by-step explanation:
In 2008, the S&P 500 index had an annual decline of approximately 38.5%. This decline was due to the global financial crisis that occurred that year, which caused major losses in the stock market. The S&P 500 index is a stock market index that measures the performance of 500 large companies listed on stock exchanges in the United States, and it is often used as a benchmark for the overall health of the U.S. stock market. The 2008 decline was one of the worst in the index's history, and it had a significant impact on the U.S. economy as a whole. Many investors lost large sums of money, and many companies went bankrupt or were forced to lay off employees. The effects of the 2008 financial crisis were felt for many years after, and it remains a defining moment in the history of the U.S. economy.