Volatilities in the stock market could continue for a while on the backs of hotter-than-expected macro data, followed by the Fed’s commitment to continue rate hikes until the 2% inflation target is achieved. Therefore, investors can check out ETFs Vanguard S&P 500 ETF (VOO) and SPDR S&P MIDCAP 400 ETF Trust (MDY) for March 2023 to diversify their portfolio.
Resilient consumer spending, despite sky-high inflation and unemployment at a record low, revved up worries of inflation not easing quickly and smoothly as hoped. It raised the odds of interest rate hikes in the upcoming months, and after the Fed's hawkish statements, investors have become more bearish.
