Domestic equities continued to react to higher overall costs while also projecting lower earnings growth heading into the rest of 2023. Nearly all sectors of the S&P 500 Index posted negative returns for February, pointing to an overall pullback across all industries of the market. The technology-heavy Nasdaq index saw stronger performance relative to the Dow Jones Industrial Index and the S&P 500 Index. A stronger dollar continues to weigh on U.S. multinational firms whose incomes are heavily reliant on international sales.
Sources: Standard & Poor’s, Bloomberg, Reuters, Nasdaq, Dow Jones
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