The stock market’s summer rally ended as investor sentiments were weighed down by Fed Chair Jerome Powell’s hawkish comments at the annual symposium in Jackson Hole, Wyoming. Since the speech last week, the benchmark indices have declined.
Amid a volatile backdrop, UBS Global Wealth Management’s chief investment officer Mark Haefele believes that value stocks show promise as this sector has outperformed growth during inflationary periods. He stated, “(Value) is one area where we would be more focused.”
