Wall Street begins the last week of 2022 in the name of declines, preparing to end the year with a heavy loss.
In particular, the S&P 500 benchmark index is about to close the seventh worst year since 1928, a year since which there have been only twenty years in which the stock has closed down by more than 10%.
These include 2008 and 2002, years in which the S&P 500 fell by more than 23% and 38%, respectively.
The worst year since 1928 was 1931, when the index fell about 47%.
But let’s go back to this year 2022: the CNBC website reports that the Dow Jones has lost 4.01% since the beginning of December and 8.63% since the beginning of the year, and is close to breaking a bullish trend lasting three years, posting its worst year-over-year performance since 2008, when it slipped 33.84%.
The S&P 500 has lost 5.77% since the beginning of December and is down 19.33% in 2022, also ready to interrupt a three-year positive trend, reporting on an annual basis the worst trend since 2008, when it plunged 38.49%.
The Nasdaq Composite is down 8.46% since early December, tumbling 32.90% year-to-date, breaking a three-year uptrend, and suffering its worst performance since 2008, when it took a thump of 40.54%.
No Christmas rally: at 15.53 Wall Street confirms its negative stance: the Dow Jones falls 81.59 points (-0.25%) to 22,123.45 points; the S&P 500 dropped 0.60% to 3,821.73, while the Nasdaq Composite underperformed with a decrease of 1.16% to 10,376.40 points.