Is the bull market finally over? For the first time in nine calendar quarters, the U.S. investment markets delivered a negative overall return. It was only a slight decline, but the decline reminds us that markets can and do go down from time to time. After starting the year strong, the Wilshire 5000 Total Market Index—the broadest measure of U.S. stocks—finished the quarter down 0.76%. The comparable Russell 3000 index was down 0.64% for the first three months of the year. Large cap stocks posted identical small losses. The Wilshire U.S. Large Cap index dropped 0.76% in value, while the Russell 1000 large-cap index fell 0.69%. The widely-quoted S&P 500 index of large company stocks dropped 1.22% in value during the year’s first quarter.