U.S. equities faced a challenging February, with escalating geopolitical concerns including Russia’s invasion of Ukraine along with uncertainty over the Fed’s rate hike trajectory resulting in the S&P 500® briefly trading in official correction territory. Smaller-caps outperformed, with the S&P MidCap 400® and S&P SmallCap 600® both up 1%.
International performance was also disappointing, with the S&P Developed Ex-U.S. BMI down 1% and the S&P Emerging BMI down 3%, as swings in oil prices amid Ukraine-Russia tensions roiled markets.
High Beta was the only factor to post a gain, with Growth in the rear.
