Matthew Fox
Drew Angerer/Getty Images US stocks fell on the last trading day of 2022, ending what has been a tough year for investors.The S&P 500 closed out its worst year since 2008, falling 20%.Meanwhile, the Dow Jones Industrial Average lost 9% in 2022, and the tech-heavy Nasdaq tumbled 33%. Loading Something is loading.
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US stocks fell on Friday, ending the last trading day of 2022 with a thud and capping off a terrible year for investors as high inflation, high interest rates, and growing concerns of a recession weighed on markets.
The major indexes experienced their worst year since 2008, when the S&P 500 fell 38%. At Friday’s close, the S&P 500 was down 20% for the year, the Dow was off 9%, while the Nasdaq plunged 33%.
Investors will be looking for relief in 2023 in the form of easing inflation, a more friendly Federal Reserve, and the potential for the economy to sidestep a recession.
Here’s where US indexes stood at the 4:00 p.m. ET close on Friday:
S&P 500: 3,839.50, down 0.25%Dow Jones Industrial Average: 33,147.25, down 0.22% (73.55 points)Nasdaq Composite: 10,466.48, down 0.11%Here’s what else happened today:
FTX customer assets worth more than $3.5 billion have been temporarily seized by Bahamian authorities, according to the country’s markets regulator.America’s housing market is still gloomy as ever as mortgage rates turned higher again, according to Freddie Mac. Mortgage rates are set to break a six-week declining streak, with the 30-year fixed rate mortgage rising by 15 basis points this week to 6.42% as of Thursday. Warren Buffett has overtaken Jeff Bezos on the rich list this year, and now threatens to unseat Bill Gates as the second-wealthiest American after Elon Musk.Fundstrat’s Tom Lee highlighted what he sees as the single biggest risk to his bullish 2023 forecast, which calls for the S&P 500 to rally more than 20%. Cardano, Solana, and Internet Computer were among the top 10 worst performing cryptocurrencies in 2022, a year riddled with fraud, scams, and spectacular implosions. In commodities, bonds and crypto:
West Texas Intermediate crude oil rose 2.51% to $80.37 per barrel. Brent crude, oil’s international benchmark, jumped 3.03% to $85.99.Gold rose 0.10% to $1,827.90 per ounce.The yield on the 10-year Treasury rose five basis points to 3.88%.Bitcoin fell 0.36% to $16,545, while ether dropped 0.08% to $1,196. Read next
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