The Fed’s expected interest rate hikes going into the next year, the lasting effects of the pandemic, and the geopolitical instability due to the Russia-Ukraine war are expected to keep the markets in a bear grip. The S&P 500 declined 23.5% year-to-date, while the NASDAQ composite and Dow Jones fell more than 32% and 16% year-to-date, respectively.
JP Morgan CEO Jamie Dimon is braced for stocks to go down another 30% as a ‘soft landing’ has been deemed unlikely for the economy. He expects a recession in six to nine months, citing lingering macroeconomic and geopolitical headwinds.
