Taper Talk Rattles Stocks06/21/2021

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June 14 - 18, 2021 Recap

S&P 500 Loses the Most Since February
Last week, U.S. equities were lower with the S&P 500 logging its worst week since February after a 1.3% decline on Friday. Equity markets struggled as investors continued to digest the more hawkish-than-expected Federal Open Market Committee (FOMC) meeting and the Federal Reserve (Fed) dot plot that suggested two potential interest rate hikes in 2023.

For the Week…
The S&P 500 lost 1.87% last week, the Dow Industrials fell 3.40% while the tech-heavy Nasdaq Composite lost the least, falling only 0.26%. Growth stocks outperformed value stocks another week with the Russell 1000 Growth Index up 0.47% and the Russell 1000 Value Index down 4.09%. The small cap stock index lost more than double what the large cap stock index did last week.

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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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