Meanwhile, the Nasdaq 100 index, representing the technology sector, dropped 34.15% year-to-date (YTD). Founder and CEO of Compound Capital Advisors, Charlie Bilello, tracked the index’s returns and took to Twitter on October 11, to share the numbers, which were 23% annualized over the past 13 years. It seems that the markets are being driven by the posturing of the Federal Reserve (Fed), whose stance towards inflation indicates high borrowing costs. These high costs will hurt the real economy by clipping corporate earnings and making money scarce in the markets. In the meantime, David Bahnsen, chief investment officer at The Bahnsen Group, spoke about the worries plaguing the markets in the form of the oncoming recession, which is being priced in at the moment. He also added: No relief rally is expected any time soon; however, one could come if the new inflation numbers come lower than expected and if the Fed decides to make a smaller rate hike. At the moment, both of these scenarios don’t look likely. Buy stocks now with Interactive Brokers – the most advanced investment platform Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
