Vanguard's Economic and Market Overview
Equity markets hit new lows over inflation concerns
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Equities continued to hit new lows after the CPI announcement of 8.3% and following Fed rate hike.
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Growth domestic stocks remain the largest detractor YTD in the US, down -30.6%, followed by Developed markets down -27.4%.
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The S&P 500 and Dow Jones were in Bear Market territory with the close of September, recording the worst September market returns since 2008.
Global equity market returns as of September 30, 2022 (%)
U.S. Equities
-4.9
-24.9
-16.9
-2.6
-4.1
-5.6
-11.8
-18.0
-19.5
-20.8
-23.7
-25.4
-3.4
-23.0
-30.6
Large-cap
Mid-cap
Small-cap
Value
Growth
3 months
YTD
1-year
Non-U.S. equities
-9.6
-9.9
-23.8 -24.2
-25.5
-27.4
Developed markets
Emerging markets
Past performance is no guarantee of future returns. The performance of an index is not an exact representation of any particular investment, as you cannot invest directly in an index.
Sources: CRSP, FTSE, and Russell. Large-cap (CRSP U.S. Mega Cap Index), mid-cap (CRSP U.S. Mid Cap Index), small-cap (CRSP U.S. Small Cap Index); value (Russell 3000 Value Index), growth (Russell 3000 Growth Index); developed
markets (FTSE Developed All Cap ex-U.S. Index), emerging markets (FTSE Emerging Markets All Cap China A Inclusion Index).
For institutional use only. Not for distribution to retail investors.
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