The US Stock market under Joe Biden ended 2022 on its worst year since 1871!
Money reports today that the DOW had its worst year since 2008:
U.S. stocks ended lower Friday, booking their worst annual losses since 2008, as tax-loss harvesting along with anxieties about the outlook for corporate profits and the U.S. consumer took their toll…
…All three major benchmarks suffered their worst year since 2008 based on percentage declines. The Dow dropped 8.8% in 2022, while the S&P 500 tumbled 19.4% and the technology-heavy Nasdaq plunged 33.1%.
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What drove markets
U.S. stocks fell Friday, closing out the last trading session of 2022 with weekly and monthly losses.
Stocks and bonds have been crushed this year as the Federal Reserve raised its benchmark interest rate more aggressively than many had expected as it sought to crush the worst inflation in four decades. The S&P 500 ended 2022 with a loss of 19.4%, its worst annual performance since 2008 as the index snapped a three-year win streak, according to Dow Jones Market Data.
According to TGP’s analysis, in 2022 the DOW decreased the most points since 2008.
At the end of 2021, the DOW stood at 36,338. At the end of 2022 which ended today, the DOW ended at 33,147. This is a 3,191-point loss in the DOW in 2022. It also was a 9% decrease.
In 2008, the market decreased 4,488 points and 34%. That was the worst year for the DOW. It is also the only year that the DOW decreased a larger amount than in 2022.
The NASDAQ had an even worse year than the DOW. For the NASDAQ it was its worse year ever.
The Nasdaq ended its worst year ever on a familiar note, down 39% on the year. The Nasdaq last had a year like this in the bear market of 1973-1974, when the index lost more than 30% in each year. It was the worst year for a major U.S. stock index since 1937.
When considering Stocks and Bonds, it was the worst year since 1871!
Biden’s economy really can’t be doing much worse. It’s as if the Biden gang is intentionally trying to destroy the economy.
Wait till 2023.