The stock market tumbled since the beginning of the year on concerns over rising inflation, the Fed’s aggressive interest rate hikes, economic contraction, and geopolitical tensions.
While optimism over a slight decline in inflation in July and better-than-expected corporate earnings helped the benchmark indexes witness some recovery over the past few weeks, the possibility of the Fed maintaining its hawkish stance, as indicated by Fed Chair Jerome Powell at the Jackson Hole economic symposium, could keep the market under pressure.
