The global economy is facing a growing number of challenges. High inflation rates around the world, driven by rising energy costs, have increased the cost of doing business and decreased disposable income for consumers. Supply chain disruptions in China and elsewhere as a result of the continuing coronavirus pandemic further add to rising costs. To combat inflation, central banks are raising interest rates to slow economic growth. These conditions have led to many companies in the tech space and the broader economy reducing earnings outlooks for the remainder of 2022, creating wide swings in stock prices as investors look for stability over risk.
