Despite the bank failures in March, all three major equity indexes posted positive returns for the first quarter of the year. The Dow Jones Industrial Average, S&P 500 Index, and the Nasdaq all saw upward trends towards the end of March.

Volatility did rise in mid-March as banking turmoil spread throughout the equity markets. Financial and bank stocks saw the most volatility as concerns about contagion became an increasing focus. Companies that provide essential goods and services continue to be beacons for investors, as confidence in smaller technology and speculative stocks became undesirable with the bank failures.

Sources: Dow Jones, S&P, Nasdaq, Bloomberg

Print Version: Equity Overview April 2023

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