May 10 - 14, 2021 Recap
Equity Markets Slip
All three major equity market indices saw their worst weekly declines since February. Investors are fearing inflation, which is on the rise, could eat into corporate profits and push bond yields higher. Higher yields would cause higher borrowing costs and lower valuations. This is especially true for technology stocks which have high growth assumptions.
For the Week...
The S&P 500 gave up last week’s gains and then some, falling 1.35%. The Dow Industrials fared a little better, down 1.08%. The tech-heavy Nasdaq Composite got hit the hardest and declined 2.32%.
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The Weekly Recap is published by Cetera Investment Management LLC, an SEC registered adviser owned by Cetera Financial Group. Cetera Investment Management provides market perspectives, portfolio guidance, model management, and other investment advice to its affiliated broker-dealers, dually registered broker-dealers and registered investment advisers.
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