The near term will be very painful—the latest US nonfarm payroll data came in exceptionally strong. The market had been hoping the Federal Reserve would cut rates, but the outcome ran counter to investors’ expectations... With current high interest rates, and the possibility of an actual rate hike, tech-related stocks could see another sharp sell-off. You should watch Wednesday’s US CPI release closely: if it comes in below expectations, that’s good news; if it exceeds expectations, you’re on your own. Fortunately, I cleared out all my US equity positions before the market opened last Friday.
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