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Worst quarter for US STOCKS-Wall Street expected since 2020

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News Tech: U.S. stocks fell on Thursday on escalating conflict in Ukraine and concerns over prospects for U.S. rate hikes, pushing major indexes higher in the worst quarter since the 2020 pandemic crash. Optimism about peace talks this week has waned as the Ukrainian military eased its preparations for a renewed Russian offensive in the southeast. The US has imposed new Russia-related sanctions, and Russian President Vladimir Putin signed a decree requiring foreign buyers to pay for Russian gas in rubles from April 1.

But his benchmark S&P 500 index has rebounded more than 5% this month on strong economic data and a rebound in large-cap stocks. “Investors are expecting a good financial year…so the market is ignoring the recession and the yield curve,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. Stated. “It’s the end of the month, the end of the quarter, so we may have to switch portfolios at the last minute, and of course the market will adjust for tomorrow’s payroll data.”

Defensive sectors such as real estate, healthcare and utilities were the lone winners among the major S&P sectors. Utilities hit a record high and are set to post their best monthly performance since 2002. War-related commodity price spike fuels inflation concerns, Federal Reserve hawkishness fuels growth concerns, pushes three major US indices toward worst quarter since March 2020 I was.

The S&P energy index fell as oil prices slid more than 4% of him as the US considers the largest release ever from its strategic oil reserves. Still, the index should post its best quarter ever as war-related supply shortages and concerns over Western sanctions against Russia pushed oil prices to multi-year highs. Ahead of Friday’s notable jobs report, U.S. consumer spending slowed sharply in February, inflation pressures continued to build, and inflation posted its biggest annual gain since his early 1980s, data show.

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