The SPDR S&P 500 ETF Trust (NYSE:SPY) has taken a big hit so far in 2022. Negative U.S. GDP growth in the first quarter has investors increasingly spooked that inflation and aggressive Federal Reserve tightening could push the economy into a recession.
Bank of America economist Aditya Bhave said this week that, despite the market volatility, the firm's machine learning tools suggest the U.S. economy is still booming.
