April 13, 2023: US, Europe, and Asian Equities Quick Review

The US stock market experienced a decline as investors didn’t focus on the positive March CPI data, which indicated that inflation had decreased more than expected. Instead, concerns about a potential mild recession due to banking fallout affected the market sentiment. As a result, the S&P 500 and DJIA closed lower by 0.41% (4,091.95) and 0.11% (33,646.50), respectively. On the other hand, European equities saw a rise as investors speculated that the US Fed could pause its rate hikes due to the easing of March’s headline inflation print. 

Consequently, the MSCI Europe increased by 0.14% DoD (155.43). 

In Asia Pacific, equities continued to fall as investors awaited the US CPI data release and speculated about the next move by the Fed. Geopolitical tensions between China and the US also had a negative impact on market sentiment after Taiwan President Tsai Ing-Wen’s overseas state visit to the US. As a result, the MSCI APxJ dropped by 0.25% DoD (524.76).

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