10 February 2022
Monthly Market review – Download Article
Markets suffered a severe jolt in the early weeks of the new year. Bond yields rose sharply, and Wall Street
suffered its steepest drop since the pandemic crash of March 2020. The S&P 500 fell by close to 10% from its
all-time high recorded on 3rd January before a late rally reduced the loss for the month to 5.2%. Most other
equity markets were dragged down with similarly large declines, but there were notable exceptions; some
emerging markets benefitted from strength in commodity markets, notably oil, up +17% in January, while the UK market delivered a positive return, up +1.6% in GBP terms.
