The U.S. stock market has remained under pressure so far this year amid heightened inflation, aggressive interest rate increases, and slashed growth estimates. Earlier this month, the U.S. consumer sentiment slid to its lowest level in 11 years. Furthermore, the University of Michigan's consumer sentiment index tumbled 9.4% to 59.1 earlier this month. This indicates a potential downtrend in aggregate demand.
Exercise equipment and related fitness stocks have been slumping lately, as evidenced by the Global X Health & Wellness Thematic ETF’s (BFIT) 24.7% decline year-to-date. Also, as consumer spending slows amid a potential increase in unemployment, the demand for exercise and fitness equipment will likely decline in the near term.
