Market Overview

Indices

The S&P 500 declined by 3.1% for the week despite a recovery on Friday by 0.6%, driven by trade uncertainty and cautious Federal Reserve commentary. The Nasdaq Composite fell sharply by 3.3% in the last week, led by losses in Nvidia (-9.79%) and Tesla (-10.35%) on weak China sales. The Dow Jones Industrial Average also saw a similar drop of 2.37% across the week while also recovering on Friday by 0.5%, taking a hit earlier in the week. The Magnificent 7 stocks were mostly negative this week, correlating with the indices. 

The tariffs being imposed by President Trump have caused worry on several fronts, including stunting economic growth and hiking inflation, and the volatility witnessed in the markets this week continues to concern investors.

Commodities

Precious metals saw increases this week, with Gold prices being up by 2.57% and Silver by 4.21%, finishing respectively at 2,921.71 and 32.822 USD. The crude oil futures, on the other hand, saw a 3.8% drop to 67.11 USD, while natural gas increased by 10.67%.

Cryptocurrency

As of March 10th, Bitcoin is at 80,031.1 USD, down from last week’s high of 94,266.1, in response to the government’s plan to create crypto reserves. Ethereum is currently at 2,027.07 USD, whereas BNB is at 545.58 USD after being down all week.

Competition Update

A challenging week for the markets! All benchmarks posted negative returns, reflecting broad market struggles. Despite this, our top two competitors, B.R.O.O.D. Beleggers and Liquid Gold, managed to push through and secure positive returns, further solidifying their positions at the top; with B.R.O.O.D. now marginally in the lead.

Meanwhile, foreign exchange movements are becoming an increasingly important factor in the competition. With the U.S. dollar weakening against its major counterparts, currency exposure could play a bigger role in shaping returns in the coming weeks. We’re curious to see if investment groups can take advantage of this!