On February 21st, 2023, the stock market experienced its worst day of the year, with the Dow Jones Industrial Average falling nearly 700 points. The selloff was broad-based, with all indexes closing at their lowest levels of the year.
The primary factor contributing to the market’s decline was the rise in yields on 10-year Treasury notes, which reached a 3-1/4 month high. This, combined with increasing inflation expectations, created a “perfect storm” that weighed heavily on stocks.
The tech-heavy Nasdaq Composite Index was particularly hard hit, dropping 2.4%, while the S&P 500 fell 1.7%. The Dow Jones Industrial Average fell 2.3%, closing at 33,815.
The market selloff was exacerbated by fears that the Federal Reserve could be forced to raise interest rates sooner than expected in order to keep inflation in check.
Analysts believe the market could remain volatile in the near future, as investors adjust to the new reality of higher interest rates. In the meantime, many investors are turning to safe-haven investments such as gold and government bonds for protection.
Insightful Analysis: Mairs & Power Growth Fund Reveals Surprising Trends in Q4 2024 Commentary
Chicago, IL – Mairs & Power Growth Fund, a mutual fund based in Saint Paul, Minnesota, reported on its performance for the fourth quarter of 2024. The fund showcased strong growth and positive returns during the last quarter, reflecting its investment strategy and market trends. Throughout the quarter, the Mairs & Power Growth Fund outperformed its benchmark index, demonstrating the fund managers’ ability to select successful investments. The fund’s diversified portfolio, which includes a mix of large-cap and mid-cap stocks, contributed to its overall performance. ... Read more