Markets finished the month with another down week (about -3% for most markets), leaving equity markets down around 10% for the month and around 5% for the quarter.

Markets continued to fall last week, touching the lows seen in mid-June and leading many to question whether the buy on the dip trade was finally dead.

Markets suffered their biggest one day fall since the height of the pandemic provoked market crisis in March 2020, with the US Nasdaq down 5.5% and the S&P 500 down 4.3% after the latest US inflation numbers showed core inflation still on the rise even though energy prices have been on the wane.