The stock market has experienced a turbulent year so far due to various macroeconomic and geopolitical issues. The economy has been facing its worst inflation in 41 years, with the June consumer price index rising 9.1% from a year-ago period.
Investors have been increasingly concerned about a recession this year as the Federal Reserve has been actively trying to control the surging inflation by hiking the benchmark interest rates. Having already hiked the interest rates thrice this year, the Fed plans further aggressive interest rate hikes. The economic uncertainties and consequent market corrections have led to many quality stocks entering oversold territory.
