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February 22nd, 2023
Insight on Plan Design & Investment Strategy Every Weekday
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| MARKET MIRROR |
Tuesday, the Dow decreased 697.10 (2.06%) to close at 33,129.59, the Nasdaq decreased 294.97 points (2.50%) to close at 11,492.30 and the S&P 500 lost 81.75 points (2.00%) to close at 3,997.34. The Russell 2000 lost 58.14 points (2.99%) to close at 1,888.21 and the Wilshire 5000 was down 870.09 points (2.13%) to close at 39,949.47.
The price of the 10-year Treasury note increased 4/32, bringing the yield to 3.956%. The price of the 30-year Treasury bond was unchanged, bringing the yield to 3.975%.
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Rules/Regs
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Hackers’ Withdrawal Strategies
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Experts advise readiness and watchfulness to thwart cyberattacks—such as from many crooks’ new go-to: corporate email phishing. 
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EVENTS
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Register to Attend Our Virtual DB Summit
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The DB Summit is designed to help plan sponsors that have or are considering adding a DB plan make the important decisions. Discussions and presentations on March 8 and 9 will focus on whether the future environment is conducive to more pension risk transfers, to keeping plans active or to reopening closed plans, as well as what investing strategies can help plan sponsors reach their plan goals. Join us as we explore the prospective role of DB plans in American’s retirement security.
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ON THIS DATE: In 1732, George Washington was born in Westmoreland County, Virginia, the first of six children of Augustine and Mary Ball Washington. In 1819, the empire of Spain ceded Florida to the United States. In 1932, the Purple Heart, a military decoration originally instituted by George Washington in 1782 to honor bravery in battle, was revived as an award for those wounded or killed in action against an enemy. In 1959, NASCAR held the first Daytona 500, which was won by Lee Petty. In 1980, at the Winter Olympics, set against the backdrop of the Cold War, the U.S. men’s ice hockey team defeated the favored Soviet team in the “Miracle on Ice.” In 1997, a team of British scientists at the Roslin Institute announced the birth of Dolly the sheep, the first clone of an adult mammal. In 2014, Joaquin “El Chapo” Guzmán Loera, the former head of the Sinaloa cartel, the world’s biggest drug trafficking organization, was arrested in a joint U.S.-Mexican operation in Mazatlán, Mexico, after outrunning law enforcement for more than a decade.
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