Market uncertainty has resulted in a broad-based selloff in equities, particularly growth stocks. Contradictory indicators, a lack of visibility and a confluence of macroeconomic pressures have investors on edge. Earnings growth slowed considerably in 2022, and expectations for 2023 forecast growth to recede to below-trend (8%) levels as economic growth slows in response to higher interest rates and elevated inflation. In this environment, growth becomes scarce, boosting potential for durable growth stocks to play a more prominent role in investor portfolios.
