Record-high inflation and consecutive 75-bps rate hikes have crippled the overall markets. The interest rate-sensitive and tech-heavy Nasdaq composite has lost 32.5% year-to-date. However, the benchmark index has gained marginally over the past month.
Moreover, rate hikes are expected to slow down in the coming months. Traders are now betting on 61% odds of a 50-bps rate hike at the Fed's next meeting in December.
