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Weekly Market Comment – May 27th 2019

Last week was a volatile one with the US underperforming both its Developed and Emerging Market peers. The technology heavy Nasdaq Index suffered more than the broad index with its sky high valuations making it more vulnerable to changes in investor sentiment. Defensive sectors held up well while those tied to the economy fared a little worse. Energy stocks suffered a setback as the oil price fell. Once again, the Chinese/U.S tensions were the focus of headline writers. However, outside of this dispute the US actually made some progress on trade talks with Mexico and Canada (NAFTA). This progress led to tariffs being removed on steel and aluminium imported from Canada and Mexico.

 

– Niall Dineen

Investment Team Leader