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Will the IT sector fare worst when the S&P 500 slumps?

Although we are not forecasting a recession in the US, we expect the economy there to slow significantly next year and think that this will contribute to a further downturn in the stock market. As a result, we anticipate that cyclical sectors of the S&P 500 will perform worse than defensive sectors of the index. Among cyclical sectors, we think that the information technology sector could fare particularly badly.

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