“Some of the world's biggest companies like Apple [AAPL] microsoft [MSFT] or Nike [NKE] have already reported slowdowns in sales, and Tesla [TSLA] indicated that layoffs are coming soon. These are clearly negative headlines that, combined with rising food and fuel prices, are making people watch their savings,” Ortiz-Olave said, explaining that a slowdown in consumer spending would lead to a loss of income for large companies.

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