After just about everyone on Wall Street got their 2022 predictions wrong, investors are now focused on a toxic mix that spells stagflation.
| It’s been a chaotic, and costly, time for many investors. But this year is only half over and the stocks tale will probably have more twists and turns before the year is up.
Indeed, the Federal Reserve is expected to go on hiking rates as it tries to tame inflation, rather than flush the market with cash like it did in 2008 and 2020 – pretty much the rocket fuel for the powerful bull market that has now come to a halt.P 500 Index falling 2 per cent or more on 14 occasions, putting 2022 in the top 10 list according to data compiled by Bloomberg going back two decades.
There is plenty of scope for downgrades, as global profit-margin estimates are seen as too hopeful. For Goldman Sachs strategists, margins for US companies will probably decline next year, whether or not the economy falls into recession.
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