The major market indexes have been under tremendous pressure lately due to skyrocketing inflation and the possibility of further aggressive interest rate hikes, which could lead to the economy slipping into a recession. The Dow Jones Industrial Average (DJIA) is down 15.3% year-to-date.
The central bank’s three interest rate hikes so far this year have failed to bring prices down, as the Consumer Price Index increased 9.1% from a year ago in June, above the 8.8% Dow Jones estimate. Inflation has been soaring at rates not seen in four decades.
