Since the start of 2021, there has been only one month when the Consumer Price Index rose less than the consensus forecast, according to Bespoke Investment Group. February did not depart from the trend.

The uncertainty over the war in Ukraine overshadowed a strong employment report, which signaled the economy continued to expand into February.

Analysts say that markets loathe uncertainty. The term “heightened uncertainty” may be a more accurate description, as there is always some uncertainty attached to investing.