Equity markets were shaken in March by turmoil in the banking sector resulting from the failure of Silicon Valley Bank and Signature Bank of New York. Swift regulatory agency backstopping of the financial sector served to calm equity markets with major indexes turning in mixed performances for the month. Against this backdrop, the VIX Index or “fear gauge” which started the month at a little over 20 jumped higher to briefly break the 30 level amidst the banking crisis before retracing and ending the month under 19. For the full month, the Dow Jones Industrial Average increased by 1.9%, the S&P 500® index was up 3.5%, and the smaller cap-weighted Russell 2000® declined by 5.0%.