Source: Charles Schwab, Bloomberg data as of 8/11/2022.
Performance measured from day of last rate hike by the Federal Reserve, Bank of England, or ECB/Bundesbank, respectively. Indexes used: U.S. = S&P 500 Index, United Kingdom = MSCI United Kingdom Index, Europe = Europe STOXX 600 Index and the F.A.Z. Index of top German companies prior to the 12/31/1986 inception of the STOXX index. Past performance is no guarantee of future results.