Historically, September has been a tough month for the stock market, and this year proved to be no exception. With the tech-heavy NASDAQ Composite down 10.4% in the past month, the road ahead looks grim. On top of it, the major U.S. equity benchmarks were down between 8% and 11% in September.
The Fed’s successive rate hikes weigh particularly on the technology sector. This sector has been on a downtrend lately as investors head to more defensive assets to deal with higher interest rates to get ahead of a possible recession.
