The U.S. markets are under significant pressure so far this year amid lingering record-high inflation and aggressive rate hike expectations. The consequent dampened investor sentiment is evident from the SPDR S&P 500 Trust ETF’s (SPY) 10.7% decline over the past month.
Deutsche Bank economists are convinced a major recession is on the horizon and expect it to be worse than estimated. As a result, the S&P 500 index delivered its worst performance since March 2020 last month.
