Five words probably best sum up equity market results in the United States at least in Q1 22: “It could have been worse!”
After a strong 2021, markets fell sharply in January and February, but recovered strongly in March. The recovery was not strong enough to offset the earlier drops so the S&P 500 Index ended down 4.60% in Q122 while the Dow Jones Industrial Index fell 4.10%.
Markets were, and remain, bedeviled by three “I’s” in the quarter: Inflation, interest rates and invasion.
Our March 2022 market commentary provided by Peter W. Tuz, CFA, CFP® President & Portfolio Manager, Chase Investment Counsel.