Consecutive federal rate hikes have wreaked havoc on the stock market. The CBOE Volatility Index has gained 98.1% year-to-date, and market volatility is expected to persist. Moreover, the rising rates are raising the possibility of the economy tipping into a recession.
According to the research firm Ned Davis, the odds of a recession stand at 98% now. Moreover, Goldman Sachs cut its 2022 S&P 500 outlook by nearly 16%.
