US Markets Round-Up
This week, the Russell 3000 index, an important benchmark of the US stock market across market capitalizations, started on a bearish note and continued the downside momentum. The index made a low of 2306.39 during the week, and it settled at 2332.05 with a week-to-date (WTD) loss of ~1.67 percent on February 23, 2023. Other major indices, such as S&P 500 and NASDAQ Composite, also witnessed negative movement for the week. On February 23, 2023, the S&P 500 index settled at 4012.33 with a WTD loss of ~1.64 percent, while the NASDAQ Composite Index settled at 11590.40 with a WTD loss of ~1.67 percent.
The market sentiments turned negative after the release of the second estimate for GDP Q4 2022, which increased at an annual rate of 2.7% compared to an advanced estimate of 2.9%.
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