Wall Street’s three main indexes booked their first yearly drop since 2018 as an era of loose monetary policy ended with the Federal Reserve’s fastest pace of rate hikes since the 1980s.
He also cited economic indicators pointing to recession, geopolitical tensions including the Ukraine war, and China’s surging COVID cases and strained relations with Taiwan. The S&P 500 growth index has fallen about 30.5% this year, while the value index is down 7.7%, with investors preferring high dividend-yielding sectors with steady earnings such as energy.Ten of the 11 S&P sector indexes dropped on Friday, led by real estate and utilities.
What is the global outlook for a recession next year?
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Zambia was Africa’s top stock market in 2022 - it climbed 12% in dollar terms | BusinessA rally in Copperbelt Energy Corp. is poised to help Zambia’s benchmark stock index become Africa’s best performer this year. | News24_Business
Read more »
Stocks suffer worst performance in years in 'miserable' 2022 | BusinessStock markets were wrapping up their worst performances in years on Friday before heading into 2023 under recession fears following Russia's invasion of Ukraine, high inflation and rising interest rates. | News24_Business
Read more »