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.
“The primary macro reasons … came from a combination of events: the ongoing supply chain disruption that started in 2020, the spike in inflation, the tardiness of the Fed beginning its rate tightening program in the attempt to corral the inflation,” said Sam Stovall, chief investment strategist at CFRA Research.
Apple Inc , Alphabet Inc , Microsoft Corp , Nvidia Corp , Amazon.com Inc , Tesla Inc are among the worst drags on the S&P 500 growth index , down between 28% and 66% in 2022. Still, signs of U.S. economic resilience have fueled worries that rates could remain higher, though easing inflationary pressures have raised hopes of dialed-down rate hikes.
Can our government please protect us from Covid 19 by blocking new arrivals from China. Please