Equities fell last week for the 7th time in 2022. The S&P 500 index returned -2.84% as geopolitical risks continued to weigh on equity returns. Last week, inflation fears gripped markets after the CPI was announced 7.9% higher than last February, the highest in over 40 years. Energy prices skyrocketed as the Russian war in Ukraine pushed the odds of a supply shock higher. Oil peaked on Tuesday at $123.70 per barrel for WTI after the U.S. decided to ban imports of Russian oil. Energy was the top performing sector in the S&P 500.
The S&P 500 Index declined nearly 2.5% for the week although a strong Friday session helped mitigate the pain. Growth stocks continued to pull the