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NYC Won’t Open Wells Fargo Accounts Over Racial Disparities

Reuters

Beaten-down growth stocks alluring as Fed slows U.S. economy

Some investors are looking for bargains in beaten-down growth and tech stocks, betting they will shine as the Federal Reserve fights to slow the US economy and tame red-hot inflation. Growth stocks – which have trounced their valued-focused peers over the last decade – have borne the brunt of the Federal Reserve’s hawkish turn this year, with the Russell 1000 Growth index down more than 11% year-to-date, compared to a more-than 5% loss for the benchmark S&P 500 index. By contrast, value stocks – often defined as shares of economically sensitive companies trading at a discount to their total worth – are broadly flat on the year.

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