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Perspectives Newsletter: Q1 2025

Perspectives Newsletter: Q1 2025

March went out like a lion, an angry one. A continual flurry of (sometimes contradictory) announcements, proposals, orders and leaks out of Washington, and challenges to many policy pronouncements from domestic and international quarters, left markets reeling in the face of uncertainty. After notching an all-time high on February 19, U.S. markets turned decisively down. The S&P 500 ended the quarter flirting with correction territory after falling nearly -10%. The tech heavy NASDAQ fared even worse, falling -13.7% in the same timeframe, ending the quarter down -14.2% from its own all-time high reached in December 2024. Pain was greatest in the larger index names as evidenced by the S&P 100 falling -6.52% in March, ending the quarter down nearly -6%. Rotation into value stocks was evident; they enjoyed a standout quarter when compared to growth, with a performance spread of over 12 percentage points. International stocks romped higher as various countries moved to stimulate economic activity in the face of shifting U.S. policy. Bitcoin proved to be no safe haven, falling almost -10%.

Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Parsons Capital Management, Inc.), or any non-investment related content, made reference to directly or indirectly in this newsletter will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this newsletter serves as the receipt of, or as a substitute for, personalized investment advice from Parsons Capital Management, Inc. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Parsons Capital Management, Inc. is neither a law firm nor a certified public accounting firm and no portion of the newsletter content should be construed as legal or accounting advice. If you are a Parsons Capital Management, Inc. client, please remember to contact Parsons Capital Management, Inc., in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing, evaluating, and/or revising our previous recommendations and/or services. A copy of the Parsons Capital Management, Inc.'s current brochure discussing our advisory services and fees is available upon request.

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