The stubbornly high inflation and the consequent interest rate hikes to tame it has caused significant market volatility this year, hitting most investment portfolios. The stock market is on course to have its worst year since 2008.
The Nasdaq has fared the worst among the three widely followed indices, losing 34.7% this year as investors withdrew from growth stocks due to escalating recession fears. The S&P 500 and Dow have lost 19.7% and 8.5%, respectively.
