Arab and international
Economy News - Baghdad
In 2022, US stocks incurred sharp losses, which were driven by large increases in interest rates, with the aim of curbing inflation, and due to fears of recession and the Russian-Ukrainian war, as well as growing concern about the rise in cases of coronavirus in China.
The three main indices on Wall Street recorded their first annual decline since 2018 as the era of easy monetary policy ended with the fastest rate hike by the US Federal Reserve since the 1980s.
This also marks the largest annual drop for the indices since the 2008 financial crisis.
Shares of “Apple”, “Alphabet”, “Microsoft”, “Amazon”, “Nvidia” and “Tesla” were among the biggest losers on the “Standard & Poor’s 500” index, as they fell by rates ranging between 28 and 66 percent. in 2022.
On the other hand, energy stocks achieved a whopping 58 percent year-on-year gain with the rise in oil prices.
According to the data, the “Standard & Poor’s 500” fell during the year 19.44 percent, the “Dow Jones” fell by 8.78 percent, and the “Nasdaq” composite index fell 33.1 percent, in the largest annual percentage point losses for the three indices since 2008.
In Friday's trading, the "Standard & Poor's 500" index fell by 9.43 points, or 0.24 percent, to close at 3839.85 points, while the "Nasdaq" complex lost 11.05 points, or 0.11 percent, to 10467.74 points.
The Dow Jones Industrial Average fell 70.47 points, or 0.21 percent, to 33,152.55.
Added 12/31/2022 - 5:50 PM
Updated 01/01/2023 - 12:27 PM