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March was an awful month for U.S. equities as the S&P 500 Index fell almost 6%. All sectors were negative except Energy (+3.9%) and Utilities (+0.3%), while the Magnificent 7 (“Mag 7”) sectors led the rout. Information Technology (Apple, Microsoft, NVIDIA), Communication Services (Alphabet, Meta), and Consumer Discretionary (Amazon, Tesla) all fell over 8% and were the three worst performing sectors.
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