The U.S. equity market had a tough time in August 2023. The benchmark S 500 index fell by 1.8%, while the tech-heavy Nasdaq Composite dropped by around 2%.

Investors now seem to be concerned about the rising bond yields and slowing economic growth in China and Europe. The Bureau of Economic Analysis also revised second-quarter U.S. gross domestic product (GDP) to an annualized rate of 2.1%, down from the previous estimate of 2.4%.

However, a few analysts believe that this may prove to be an opportune time for retail investors to pick up high-quality stocks. To create wealth, long-term investors should consider picking up small positions in high-quality growth stocks that are riding secular tailwinds.

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Source Fool.com