Public sector stocks are experiencing a surge, with defence and power sectors showing promise due to robust order books and improving execution. While defence is a preferred long-term theme, experts express caution on oil and gas due to structural headwinds and see only tactical opportunities in IT.
US stocks: US market closes down sharply after Fed holds rates unchanged
Wall Street experienced a sharp decline as the Federal Reserve maintained interest rates. AI-related chip stocks also saw further losses ahead of key earnings reports.