- U.S. equity markets slid on another volatile week as the Russia/Ukraine conflict dragged into a third week while gasoline prices in the U.S. surged to record-highs, sending consumer confidence to recessionary levels.
- Sliding to its lowest weekly close since June 2021 amid a stretch of 7-of-10 weekly declines, the S&P 500 declined 2.8% while the Nasdaq slid back into bear-market territory.
- Real estate equities were among the outperformers following another wave of REIT dividend hikes. The Equity REIT Index declined 1.5% with 7-of-19 property sectors in positive territory while Mortgage REITs advanced 0.6%.
- Another week, another wave of REIT dividend hikes. Eight more REITs raised their dividends this past week, bringing the full-year total up to 46, a faster pace than the record year in 2021.
- Ahead of the FOMC rate hike decision in the week ahead, consumer prices surged at the fastest pace in four decades last month, which translated into a slump in consumer confidence to the lowest level in over a decade.
For further details see:
Putin's Price Hike