PG - The Nasdaq Has Plummeted 14% in 2022 but These 3 Dividend Kings Have Shrugged It Off
Monetary tightening is here. On Wednesday, the Federal Reserve confirmed intentions to begin raising interest rates in March. Fed Chair Jerome Powell hinted to expect the unexpected, stating that the Fed would take a flexible approach to raise rates and respond to inflation as needed.
Although it's a reasonable position to take, and could be the best course of action long term, the U.S. stock market tends to hate short-term uncertainty. Unsurprisingly, the Nasdaq Composite went from up over 3% on Wednesday to giving up most of those gains by the end of the day.
The Nasdaq is now down 14% so far in 2022, but 3M (NYSE: MMM) , Procter & Gamble (NYSE: PG) , and Emerson Electric (NYSE: EMR) are all down less than 5% year to date. All three companies are Dividend Kings , which are S&P 500 components that have raised their dividends for at least 50 consecutive years. Here's what makes each dividend stock a great buy now.
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The Nasdaq Has Plummeted 14% in 2022, but These 3 Dividend Kings Have Shrugged It Off