As volatility continues to persist in the stock market, investors may be considering swapping out of their current positions into safer defensive stocks. These companies are typically those which will perform steadily regardless of the state of the economy. Just yesterday, retail sales for February came in below consensus estimates. Namely, sales grew by 0.3% instead of the expected 0.4%, a sharp slowdown compared to 4.9% in January. This decrease in spending could be due to the inflationary effects that consumers are starting to feel. As the Fed finally lifted interest rates for the first time since 2018, it could also tame consumer spending. With these developments, it would not surprise me to see some investors looking for the best defensive stocks to buy in the stock market today.
With these developments in mind, check out these top defensive stocks in the stock market now.
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