There’s total agreement on one thing about 2022: It was a malodorous year for the stock market. What about next year? Right now, the most common outlook is that it will be no treat either, with the continuing war in Ukraine, the possibility of another Covid-19 outburst as the disease spreads through China and, of course, a recession.
As of Friday’s close, the S&P 500 had lost almost 20% for 2022, the worst tumble since the financial crisis. Now, back-to-back yearly market losses do occur, but that’s a rarity. The market has had a consecutive two-year slide only four times since 1928. When that happens, the second year (gulp) tends to have the bigger drop.
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