Last Month in the Markets: Reasons why Equity Performed Poorly

March 2026 Market Update – Sluggish Growth, Mixed Inflation Signals, and Heightened Global Risk

February ended with reports of coordinated military strikes by the United States and Israel targeting Iranian leadership and nuclear-related infrastructure. Iran subsequently responded with attacks on U.S. and Israeli interests across the region.

Markets reacted quickly at the beginning of March. Gold and oil prices rose sharply on the first trading day of the month. North American equity markets were relatively flat on March 2 before declining at the open the following day.

2026 Year in Review Webinar Recording

December + Annual 2025 Market Update – Tariff Turbulence, Volatility Peaks, and Commodities Diverge Tariff Turbulence, Volatility Peaks, and Commodities Diverge

Last year was productive for equity investors, with Canadian and American indexes delivering strong returns for the third consecutive year. However, it wasn’t without turbulence. The first quarter saw modest gains until a major policy announcement in early April introduced a new round of trade tariffs, sparking a global trade conflict.

By Friday, April 4, the North American equity indexes had plunged between 6.32 per cent and 10.02 per cent for the week. The MSCI All Country World Index fell 7.91 per cent over the same period, signifying the depth and breadth of the negative effects of tariffs on equity values around the world. Fortunately, by mid-May the TSX, S&P 500, Dow and NASDAQ had recovered these early losses.

Winter 2025 Newsletter – The Wagner Investment Management Team

As we step into 2025, now is the perfect time to review your financial goals and make sure your investments are aligned for success. Explore the advantages of portfolio rebalancing, tick off key items from your New Year’s financial checklist, and stay ahead with important deadlines like your RRSP contribution date. Plus, discover how strategies like spousal RRSPs can help maximize your retirement planning. Let’s make 2025 your most financially confident year yet

Last Month in the Markets – November 2025 – Shutdown Ends, Data Delays, and Rate Cut Uncertainty

The final, and Thanksgiving shortened, week of the month salvaged what had been a dismal period for North American equity indexes. The S&P 500 and Dow eked out small gains but gains nonetheless after rising more than 3 percent last week. The TSX rose 4 percent in the last week and achieved another all-time high. In the four trading days last week, NASDAQ jumped nearly 5 percent but remained 1½ percent below its level from the end of October.

Reflections & Resources