The implementation of the Federal Reserve's interest rate hike triggered a sell-off in the stock market, but the prospect of tightening monetary policy did not deter market bulls. Mark Highfield, chief investment officer at UBS Global Wealth Management, said that his team is still “preparing for further increases in the stock market while preparing for recent fluctuations.” He said, “If austerity remains moderate, credit spreads remain stable, and profits continue to grow, this round of gains should be expected to expand to more industries and regions. We recommend diversifying stock exposure while avoiding excessive concentration on areas that are particularly sensitive to interest rates or dependent on a single driver of return.”

The implementation of the Federal Reserve's interest rate hike triggered a sell-off in the stock market, but the prospect of tightening monetary policy did not deter market bulls. Mark Highfield, chief investment officer at UBS Global Wealth Management, said that his team is still “preparing for further increases in the stock market while preparing for recent fluctuations.” He said, “If austerity remains moderate, credit spreads remain stable, and profits continue to grow, this round of gains should be expected to expand to more industries and regions. We recommend diversifying stock exposure while avoiding excessive concentration on areas that are particularly sensitive to interest rates or dependent on a single driver of return.”