The 2 Best Stocks to Buy Right Now
Last Friday, Federal Reserve Chairman Jerome Powell delivered a serious blow to U.S. stock markets. Specifically, Powell said the Federal Reserve will continue to raise interest rates until it is confident that inflation is under control. These remarks halted the recent upward trend across the varied U.S. stock landscape. The key reason for this abrupt trend reversal is that Wall Street was expecting the Federal Reserve to back away from its aggressive interest rate hike strategy heading into 2023.
The Federal Reserve's battle to tamp down inflation has pushed every major U.S. stock index deep into the red for the year. Since the start of 2022, the S&P 500 has dropped by 14%, the Dow Jones Industrial Average has lost 9.97% of its value, the Nasdaq Composite has sunk by a hefty 22%, and the Russell 1000 has plunged by nearly 15%. While the veracity of this current bear market is indeed concerning, investors ought not lose sight of the fact that down periods in U.S. stock markets tend to be short lived. Put simply, savvy investors shouldn't be afraid to take advantage of this widespread sell-off.
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Source Fool.com
