Weekly Economic Update Presented by Wendy Nelson, March 13, 2023
THIS WEEK ON WALL STREET
Stocks tumbled last week as investors reconsidered their interest rate expectations after Fed Chair Powell's Congressional testimony that rates may need to go higher. Stocks also were rattled when a west coast bank was placed into receivership on Friday following a run on deposits.
The Dow Jones Industrial Average dropped 4.44%, while the Standard & Poor's 500 lost 4.55%. The Nasdaq Composite index fell 4.71% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, slipped 0.37%. *1,2,3
- RATE FEARS, BANK SCARE
- POWELL'S CONGRESSIONAL TESTIMONY
- THE WEEK AHEAD: KEY ECONOMIC DATA
- THE WEEK AHEAD: COMPANIES REPORTING EARNINGS
TIP OF THE WEEK
Entering the armed forces, going to a junior college and transferring to a university, attending a state college instead of a private one – these are all paths toward making higher education more affordable.
MEET WENDY NELSON, CEO
President and Founder of Wind River Wealth Advisors
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