Weekly Market Update - February 27, 2026

Over 35 years of experience providing financial advice

Vail, CO / Telluride, CO / Greenville, SC

Week Ending February 27*

Models

As we all know, the US and Israeli militaries attacked Iran. And it goes without saying our thoughts are with those who serve in The United States armed forces and wish them a quick and safe return home. The outlook remains unclear as to what effect recent events will have in global markets, though oil prices have spiked and in a flight to safety the 10-year US Treasury dipped below 4% late last week, but has since recovered. We will keep you abreast as the situation evolves, but rest assured, as always, risk-management is always on the forefront of how we manage our clients' assets.

Equities

Stocks fell last week with the S&P 500 returning -0.42%. The week began with a market dip as President Trump announced that he would institute a new global 10% tariff in the wake of the Supreme Court’s decision that previous tariffs were not valid under the IEEPA, while mentioning a rate as high as 15% is possible. A blizzard snarled the East Coast on Monday, weighing on airlines and other travel companies. Utilities proved to be the best performing sector. Other defensive sectors consumer staples and health care came in second and third place, respectively. The information technology sector performed worst among sectors, with semiconductor names NVIDIA and Broadcom being the two most negative individual contributors to the S&P 500’s return, returning -6.65% and -3.94%.

Fixed-Income

Treasury yields declined across the board, with longer-duration yields falling more than shorter-duration yields. The 10-year Treasury note fell below 4% for the first time since November as geopolitical tensions, tariff uncertainty, and fears of AI disruption have triggered a flight-to-quality. Following the Supreme Court’s decision last week to strike down President Trump’s tariff program, he signed an executive order imposing a new 10% global tariff on most imported goods, which took effect on Tuesday. On Friday, President Trump said that he was “not happy” with the progress of negotiations with Iran over its nuclear program, though no decision has been made on whether to authorize strikes.

Planning & Resources

A few words on how markets have reacted to military intervention overseas dating back to the 1990 Gulf War. And below a very-near term view from Charles Schwab. Generally speaking the first week entails knee-jerk or panic selling on average over the first 19 days. The ensuing recovery on average being an additional 42 days. Leaving markets relatively flat after roughly the first month. Six months later, however, the S&P 500 index has historically marched higher with an average rate of return of 6.3%. And are traditionally only lower in the midst of a recession. Only time will tell in this case... But for now, no need to panic.

Schwab

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Registered Representative of and securities offered through Berthel Fisher & Company Financial Services, Inc. (BFCFS). Member FINRA/SIPC. Investment advisory services offered through BFC Planning, Inc. 1st & Main Investment Advisors, BFCFS, and BFC Planning, Inc. are independent entities. The interpretations and organizations of these ideas are the confidential thoughts of 1st & Main Investment Advisors and do not represent the opinions of BFCFS Different types of investments involve varying degrees of risk including market fluctuation and possible loss of principal value. There can be no assurance that any specific investment strategy will be profitable.

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