Stock market tumbles, closes out worst year since 2008 – By Zachary Halaschak (Washington Examiner) / Dec 30, 2022
The stock market’s final trading session of 2022 has closed, marking the worst year for stocks since 2008.
The Dow Jones Industrial Average shed more than 90 points on Friday, or about 0.27%. The tech-heavy Nasdaq fell modestly, and the S&P 500 fell by just about 0.3% on the last day of trading before the new year.
Friday’s loss fits the trend that stocks have been feeling all year long. Since the start of 2022, the S&P 500 has fallen by a weighty 20%. The Nasdaq, reeling from months of losses by tech companies, lost nearly 34% of its total value in the past year, and the Dow has declined by a more modest 9%.
This past year was a year of great uncertainty. The new year was ushered in by high inflation, which eventually grew to levels not seen since the 1970s. Many of the economists analyzing the inflation situation weren’t even around during the country’s last inflationary period.
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