Recapping a Challenging Year and Looking Ahead
https://www.edwardjones.com/us-en/market-news-insights/stock-market-news/stock-market-weekly-update
2022 proved to be the most challenging year for investors in more than a decade as multiple headwinds hit the economy and the markets1. Four-decade-high inflation, aggressive central bank tightening, a war in Ukraine and lockdowns in China, all contributed to a rapid adjustment in interest rates, valuations, and sentiment. As a result, most major equity indexes peaked on the first trading day of the year and have been on a downtrend since, with the S&P 500 navigating its longest bear market since 20081. Also vulnerable to the inflation surge and the withdrawal of monetary stimulus, bonds experienced their largest sell-off since records started in 19261.
As we look ahead, we think that inflation and central bank actions will remain in the driver’s seat in 2023, but conditions could slowly start to shift in a more favorable way for the markets. With investors ready to turn the page on the calendar, we review some of the milestones that defined the markets over the past 12 months and offer some perspective on how these factors could evolve.
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