3 月市场综述受美国关税政策引发的 GDP 增长放缓和通胀担忧影响,2025 年第一季度市场以逆转收官。2024 年推动指数回报的大型科技股在 2 月底开始下跌,并持续至 3 月,导致标普 500 指数较年初高点下跌逾 10%。尽管市场波动,标普 11 个板块中有 7 个年初至今保持正收益,防御性股票表现优于大盘。亚洲和欧洲市场第一季度回报也强于美国,多个指数单季收涨。随着衰退担忧和美联储降息预期...
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