• January 2022 saw the Nasdaq Composite Index down more than 15% and the S&P 500® fall just shy of a 10% correction.
  • But putting this in context, markets generally see 5% drawdowns two or three times a year – and often a 10% correction as well.
  • Historically, markets tend to go through a bout of indigestion about three months before an initial rate hike – and expectations for multiple hikes in 2022 are high right now.
  • While choppiness is likely to persist through the first half of 2022, there are still tailwinds for growth that may be underappreciated by the markets, including housing and capital expenditures indicators.
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