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In the face of a Federal Reserve tightening campaign and a regional bank run, markets proved more buoyant than many investors thought possible.
However, all stocks weren't created equal last quarter. The broad S&P 500 rose 7% in the first quarter, while the Dow Jones Industrial Average added just 0.4%. The technology-heavy NASDAQ index, on the other hand, jumped 17%.
Bond prices also climbed as the 10-year U.S. Treasury note yield fell to 3.5% from 3.8% during the quarter.
- Broad Market (S&P 500): +7.5% 1Q | -7.8% last 12 months
- Small Companies (Russell 2000): +2.7% 1Q | -11.6% last 12 months
- International Stocks (EAFE): +8.6% 1Q | -0.9% last 12 months
- Emerging Markets (MSCI EM): +4.0 1Q | -10.3% last 12 months
- Bonds (Barclays Agg): +3.0% 1Q | -4.8% last 12 months
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Wild Quarter for Markets Might Foretell Further Turbulence
by Akane Otani
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