The stock market has suffered since the beginning of the year due to persistent geopolitical tensions, supply chain disruptions, and rising inflationary pressures. The Consumer Price Index (CPI) showed a year-over-year increase of 8.6% last month, marking a fresh 40-year high.
After raising interest rates twice earlier this year, the Federal Reserve has recently raised its benchmark interest rate by 75 basis points, the largest increase in nearly three decades, to fight the multi-decade high inflation. The central bank also hinted at more aggressive tightening ahead.
