Morgans AM: Thursday, 24 March 2022

US equity markets retreated and settled near their session lows as investors weighed the latest spike in oil prices and hawkish comments from Federal Reserve officials - Dow down -449-points or -1.29% . The broader S&P500 -1.23%, with Financials (down -1.84%), Health Care (+1.77%) and Information Technology (-1.5%) fell 1.5%+ to lead nine of the eleven primary sectors lower. Energy (up +1.74%) was the leading primary sector overnight. The Nasdaq -1.32%. Adobe Inc fell -9.34% after the software firm reported better-than-expected revenue and earnings per share (EPS) after the closing bell of the previous session but provided an outlook for the current quarter that fell shy of Wall Street estimates. The small capitalisation Russell 2000 shed -1.73%.