US Markets Round-Up
This week, the Russell 3000 index, an important benchmark of the US stock market across market capitalizations, started on a negative note and continued the bearish momentum. The index made a low of 2267.34 during the week, and it settled at 2271.17 with a week-to-date (WTD) loss of ~3.46% percent on March 09, 2023. Other major indices, such as S&P 500 and NASDAQ Composite, also witnessed negative WTD movement. On March 09, 2023, the S&P 500 index settled at 3918.33 with a WTD loss of ~3.15 percent, while the NASDAQ Composite Index settled at 11338.36 with a WTD loss of ~3.00 percent.
An increase in the unemployment insurance weekly claims numbers coupled with an increased unemployment rate acted as the catalysts for a downside direction.
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Xxxxxx, Xxxxxx ‘Xxxxxx’ Xxxxxx Xxxxxx Xxxxxx Xxxxxx Xxxxxx Xxxxxx Xxxxxx Xxxxxx th February 2023.
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