Markets & Economy

The Economy: March 2018

THE ECONOMY: As of March 2018

It is safe to say the market was still in a corrective phase last month. Whether it was renewed fears surrounding future trade policy, or investor anxiety about technology darlings Facebook, Amazon, and Tesla, stocks continued to experience elevated levels of volatility. As March drew to a close, the S&P 500 had declined 2.54%, and the technology-heavy NASDAQ was off 2.79%. Somewhat surprisingly, the small stocks in the Russell 2000 held up well, actually gaining 1.29%. New Federal Reserve Chair Jerome Powell hosted his first meeting, which went largely as expected. The federal funds rate was increased another quarter percentage point, with a forecast of two to three more hikes through year-end.