| Commentary |
| The U.S. markets moved sharply lower this week led by small-cap and technology stocks, with large caps performing considerably better on the whole. With the Conference Board’s index of leading indicators falling 0.1% in March, investors have begun to question just how much the sequestration will affect the economic recovery. Consumer confidence, housing permits and new orders for manufactured goods were responsible for most of the declines.
Global markets also took a breather this week, with most of them moving into negative territory for various reasons. Some highlights included: Japan’s Nikkei fell over 1% this week amid profit taking after its meteoric rise; Britain’s FTSE fell more than 1.5% even after likely avoiding a triple dip recession in the first quarter; and Germany’s DAX fell more than 3% amid ongoing uncertainty within the eurozone about future bailouts and their conditions. |
S&P 500’s SPDR (NYSE:SPY)
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