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The equity markets have turned volatile amid growing geopolitical tensions, rising oil prices, and fear of delay in interest rate hikes amid solid wage data in the United States. Oil prices have increased this year amid voluntary product cuts, the Middle East conflict, and rising tensions between Israel and Iran. Higher oil prices could drive inflation, thus delaying interest rate cuts. Considering these factors, I expect equity markets to remain volatile in the near term. Amid the growing volatility, investors should look to strengthen their portfolios with these three quality defensive stocks.
Dollarama
Dollarama (TSX:DOL) is a Canadian retailer that offers a wide range of consumer products at attractive prices due to its superior direct-sourcing ability and efficient logistics system. So, the company has been witnessing healthy footfalls even during the challenging macro environment, thus driving its…
