February 2023 Monthly Market Review

Inflation, the Federal Reserve’s (Fed) response to it, and recession fears led markets lower in February, reversing gains from January. Major equity markets suffered for the month, with emerging markets hit the hardest with a decline of 6.5%. China and Brazil were the primary detractors, falling 10.4% and 9.2%, respectively, owing to weakness in commodities and likely geopolitical tensions that drove profit-taking after strong gains from October ’22 lows. (Read More/View PDF)