It’s time to review last month’s key events and look ahead to what’s coming in the market and economic landscape. Download the latest edition of the Month-in-Review, developed by the Prime Capital Financial Investment Team!
Quick Takes
- Volatile Stocks. US equity indices fell again in March as weak consumer sentiment and tariff worries began to hit the market hard. The S&P 500 fell 5.75% and the Nasdaq 100 fell 7.7%. The Magnificent 7, which has driven the market over the last few years, fell 9.7%.
- Inflation and Interest Rates. The 10Y treasury yield remained flat in March at 4.2% as concerns over the federal budget and finances dominated headlines. Core PCE inflation for February came in above expectations at 2.8% while headline PCE inflation was 2.5%.
- Tariff Unpredictability. President Trump used tariffs on Canada, Mexico, and China in March. He also began to push for reciprocal tariffs on countries that have trade barriers including tariffs or other measures. One threat involved placing a 200% tariff on alcohol imports from Europe, although this never went into effect.
- International Shift. By the end of March, the S&P 500 had fallen 4.6% year-to-date while the STOXX Europe 600 index had risen 5% as investors increasingly began shifting to international assets. A looser fiscal policy in Germany is expected to be stimulative to the European economy.
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This article is not to be construed as financial advice. It is provided for informational purposes only and it should not be relied upon. It is recommended that you check with your financial advisor, tax professional and legal professionals when making any investment or any change to your retirement plan. Your investments, insurance and savings vehicles should match your risk tolerance and be suitable as well as what’s best for your personal financial situation.