The potential for four or more interest rate hikes by the Federal Reserve over the course of 2022 has been weighing heavily on growth stocks of late. Investors are clearly pivoting toward safe havens like value and dividend stocks ahead of this perceived eventuality. Shares of the cancer specialists Adaptimmune Therapeutics (NASDAQ: ADAP) and Clovis Oncology (NASDAQ: CLVS) are both trading at absurdly low valuations following their steep downturns over the past several weeks.
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