Various macroeconomic and geopolitical headwinds have led to wild swings in the market this year. The S&P 500 has seen a nearly 16% decline year-to-date, and the Nasdaq Composite has declined almost 28% over this period.
The Federal Reserve has raised interest rates six times this year to tame the high inflation. While the October inflation data indicates signs of cooling down, Fed is expected to increase rates until inflation remains above its target of 2%.
