It's been a chaotic, and costly, time for many investors. But 2022 is only half over and the stocks tale will probably have more twists and turns before the year is up. Coming off the worst first-half since 1970, US equities now face a triple whammy of sticky inflation , recession risks and the threat to corporate profits from sinking consumer confidence. After just about everyone on Wall Street got their 2022 predictions wrong, investors are now focused on a toxic mix that spells stagflation, as well as more damage to valuations. "The next 10% will probably be down from here, not up," said Scott Ladner, chief investment officer at Horizon Investments. "A quick market bottom will need a turn in central bank policy, and we don't think that's a possibility in the next few months." 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's now come to a halt. This year is already one of the worst in terms of big daily declines, with the… Read full this story
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