Federal Reserve Chair Jerome Powell has firmly re-iterated that interest rate hikes are unavoidable in the upcoming quarters to bring about price stability. This has led to widespread bearish sentiment across sectors, and stocks are estimated to plummet further. The CNN Business Fear & Greed Index has also shown ‘Extreme Fear’ signs over the past week.
Moreover, recession fears pushed U.S. stocks briefly into a bear market. The SPDR S&P 500 Trust ETF (SPY) lost 2.6% over the past five days. Since fundamentally weak stocks might not be able to dodge the expected market fluctuations, popular analysts have recently downgraded many of them.
