The stock market has witnessed wild swings as the multi-decade high inflation, dawdling supply chain, and other macroeconomic headwinds have battered the economy. Moreover, the consumer price index rose 9.1% on a year-over-year basis in June, higher than the anticipated 8.8%.
Additionally, the Fed is committed to bringing down inflation. It might launch another 75-basis point hike this month and a possible 50 basis point hike in September, which are raising the odds of a recession.
