March was a volatile month for equities, with the S&P falling nearly 5% early before recovering to end the month up 3.7%
Market participants had a lot to digest, including the ongoing invasion of Ukraine by Russia, the first interest rate hike by the FED since 2018, oil prices above $100 per barrel, and a 40-year high of inflation
Fixed income securities continued to sell off in March as continued inflation prompted the FED to increase the discount rate by 25 basis points
Emerging market equities struggled in March as another Covid related shutdown in China and spillover effects from the Ukrainian invasion roiled these markets
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