Market Update: Interest rates rise again to combat inflation
Market performance in July was strong, as a ‘bad news is good news’ dynamic appeared to take hold.
Many investors are reflecting on the year so far, which saw the largest falls for the S&P 500 index over the first six months since 1970. The MSCI All Country World Index (which tracks the largest companies around the world) also suffered falls and its worst opening six months since its creation in 1990. However, not all industries have performed in the same way. For example, the energy sector held up relatively well due to high crude oil and gas prices. The war in Ukraine also continued to influence markets, due largely to the uncertainty as well as higher commodity prices. In particular, energy and food costs remained elevated owing to supply disruptions.
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