Broad-based global equity indexes, such as the S&P 500 and the MSCI World Index, finished lower after a volatile quarter, as investor sentiment flipped from a potential Fed pivot to a global recession in the face of hawkish central banks around the world. Innovation stocks, particularly those outside the broad-based indexes, rallied during the first half of the quarter before succumbing to significant selling pressure following Chairman Powell’s Jackson Hole speech.
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