Reported 2 months ago
Bank of America’s Michael Hartnett indicates that while the global financial market is experiencing significant turbulence, it has not yet reached levels that would suggest a severe economic downturn. Despite a 6% drop in the S&P 500 since mid-July, key support levels remain intact. Hartnett suggests investors should be cautious and take profits during the Federal Reserve's first interest rate cut, favoring certain assets that can thrive in a lower yield environment.
Source: YAHOO