Amid stubbornly high inflation and consecutive rate hikes, the Consumer Confidence Index of the Conference Board fell to 100.2 in November, down from 102.2 in October. The index is at its lowest level since July.
Moreover, according to Goldman Sachs Group Inc. (GS) strategists, the bear market phase is expected to extend into 2023. They said, "The near-term path for equity markets is likely to be volatile and down."
