The stock market has witnessed a rough year so far. The S&P 500 reported its worst first half in over 50 years, hurt by various macroeconomic and geopolitical headwinds.
The Consumer Price Index (CPI) index rose 9.1% year-over-year in June, hitting a new high in more than 40 years. Even after raising the benchmark interest rates by 75 basis points today for the second straight month, the Federal Reserve is expected to keep tightening its monetary policy to avoid a deep recession. However, a potential economic downturn is expected to keep the stock market under pressure.
