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March 8th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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| Market Mirror |
Yesterday, the Dow dropped 797.42 points (2.37%) to 32,817.38, the Nasdaq fell 482.48 points (3.62%) to 12,830.96 and the S&P 500 lost 127.78 points (2.95%) to finish at 4,201.09. The Russell 2000 closed 49.57 points (2.48%) lower at 1,951.33, and the Wilshire 5000 plunged 1,347.53 points (3.10%) to 42,188.23.
The price of the 10-year Treasury note decreased 26/32, bringing its yield up to 1.777%. The price of the 30-year Treasury bond was down 9/32, increasing its yield to 2.201%.
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Court Dismisses ERISA Actuarial Equivalence Lawsuit
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The ruling, issued in favor of Partners Healthcare System, offers a substantial legal analysis of ERISA’s requirements as they pertain to the actuarial equivalence of different types of defined benefit pension annuities. 
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ON THIS DATE: In 1910, in France, Baroness de Laroche became the first woman to obtain a pilot’s license. In 1911, in Europe, International Women’s Day was celebrated for the first time. In 1945, Phyllis Mae Daley received a commission in the U.S. Navy Nurse Corps. She later became the first African American nurse to serve duty in World War II. In 1948, the U.S. Supreme Court ruled that religious instruction in public schools was unconstitutional. In 2014, Malaysia Airlines Flight 370, carrying 227 passengers and 12 crew members, lost contact with air traffic control less than an hour after taking off from Kuala Lumpur then veered off course and disappeared. Most of the plane, and everyone on board, were never seen again.
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