Black Friday wasn't kind to U.S. stocks. Every major U.S. stock index fell by more than 2% on the holiday-shortened trading session due to concerns about the omicron coronavirus variant. Although it is still too early to tell if this latest variant will disrupt global commerce in a significant way, stock markets around the globe are likely to be on the volatile side until this threat is resolved. In turn, investors may want to take a defensive-oriented approach to stocks for perhaps the remainder of the year.
What is the best strategy to ramp up your portfolio's defense against marketwide volatility? Owning shares of companies with stable free cash flows, better than average dividend yields, and reasonable valuations is always a good idea, especially in uncertain economic climates. The pharma titan GlaxoSmithKline (NYSE:GSK) ticks all of these boxes.
Source: Motley Fool
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