Equity markets pulled back for Wednesday's 3rd day this week as a growing fear of an economic downturn saps bullish sentiment. The downturn, which has been expected for several quarters, appears to be finally here based on guidance from retailers like Target and Lowe's. In their view, consumer spending will fall double-digit this year, on top of a 30% correction in the housing market?demand for mtg fells to a 28-year low and points to a deepening correction in that sector.

On the bright side, not all is lost in the investing world. While most of the S&P 500 index is under pressure, some sectors, like fast food, are producing growth and guiding for growth in 2023. These stocks offer investors a range of opportunities, including blue chip safety, high yield, and value, depending on where you look.