Unless things change in the next few hours, 2022 will be one of the worst equity markets in recent history. As of December 27, the S&P 500 index (“S&P 500”) had fallen 18.02%. The last drop of this magnitude was in 2008.
The reasons behind the plunge in markets are well-known. Covid related supply chain issues, the Russia-Ukraine war, massive government spending and artificially low interest rates caused inflation to rise well-into 2022.
The question we face in the last hours of 2022 is what happens next?
Our fourth quarter market commentary and 2022 wrap up provided by PETER W. TUZ, CFA, CFP®, President & Director, Portfolio Manager, Chase Investment Counsel.