Most likely this is a short term blip. Short sharp corrections of 10% are quite normal in bull markets but never fun to see and always spook people. If people were worried about the world moving into a recession then RIO and BHP would not be green today,
If the economy can't handle interest rates at 0.5% or 0.75% or even 1% then I don't know what to say. To me normal rates are somewhere around 4% to 5%
Some of the inflationary pressures can easily reverse if Ukraine-Russia resolves itself and/or supply chain issues subside as this omicron nonsense passes. Many experts are claiming omicron has peaked.
