A Federal Reserve rate hike triggered a stock-market selloff, but the prospect of tighter monetary policy has not deterred market bulls. UBS Global Wealth Management chief investment officer Mark Haefele said his team remains positioned for further gains while preparing for near-term volatility. He said a rally could spread to more sectors and regions if tightening remains moderate, credit spreads (differences in yields between debt instruments) stay stable and profits continue growing. Haefele recommended diversified equity exposure and avoiding excessive concentration in areas especially sensitive to interest rates or dependent on a single return driver.