The first quarter of 2026 was a reminder that markets can change direction quickly.
January began with a sense of stability. Inflation appeared to be easing, growth was holding up, and investors were increasingly hopeful that interest rates might gradually come down later in the year. But by the end of March, that confidence had been tested.
Rising energy prices, renewed inflation concerns and weaker investor sentiment all combined to shift the market outlook. What started as a relatively calm quarter finished in a much more uncertain place.