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Despite a strong start to the quarter, returns finished negative across all major asset class categories during the period. Persistently high inflation was the primary culprit, causing interest rates to move higher and asset prices to reset lower. Although the economy has been resilient, the risk of recession is growing with each increase in the Fed funds rate. Read on for a look at third-quarter market performance.

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FORVIS Private Client services may include investment advisory services provided by FORVIS Wealth Advisors, LLC, an SEC-registered investment adviser, and/or accounting, tax, and related solutions provided by FORVIS, LLP. The information in this presentation should not be considered investment advice to you, nor an offer to buy or sell any securities or financial instruments. The services, or investment strategies, mentioned in this presentation may not be available to, or suitable, for you. Consult a financial advisor or tax professional before implementing any investment, tax, or other strategy mentioned herein. The information herein is believed to be accurate as of the time it is presented and it may become inaccurate or outdated with the passage of time. Past performance does not guarantee future performance. All investments may lose money.

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