Saturday, December 31, 2022 – 3:37 PM
From: Ramy Samih
ABU DHABI, 31 December / WAM / Global stock markets bid farewell to the year “2022” with sharp losses, the largest since the global financial crisis in 2008, in light of the growing fears of investors about the global economic recession and the tightening of monetary policy to curb inflation, which reached unprecedented levels in decades.
According to the monitoring of the Emirates News Agency, WAM, the US stock markets recorded the largest annual loss since the global financial crisis, after the Federal Reserve raised interest rates 7 times to a range between 4.25% and 4.5%, to control high inflation rates.
The US Federal Reserve raised interest rates by 50 basis points last December and 75 basis points in November, September, July and June, the largest increase since 1994, in addition to raising 50 basis points in May, which is the largest increase then in 22 years, and an increase of 25 points. Basis in March of the same year.
Chinese stocks also suffered the worst annual loss since 2018, affected by several factors, including the “Covid-19” policy, the real estate crisis and the Federal Reserve’s tightening of monetary policy, while Japanese stocks recorded their first annual loss in 4 years, while European stocks achieved worse this year. Performing since 2018.
The “Standard & Poor’s” index on the American Wall Street Stock Exchange declined during the year 2022 by 19.4%, or the equivalent of 926.7 points, to reach 3839.5 points, compared to 4766.18 points at its previous level by the end of the year 2021.
The “Dow Jones” industrial index fell by 8.8%, losing 3191 points, to reach the level of 33147.2 points, compared to its previous level at 36338.3 points, while the “Nasdaq” index, which was dominated by technology stocks, lost about 5178.5 points, or 33.1%, to reach 10466.48. points against 15644.97 points.
In the European markets, the German “DAX” index decreased during 2022 by 12.3%, equivalent to 1961 points, to reach the level of 13923.59 points, compared to its previous level at 15884.86 points by the end of 2021.
The European Stoxx 600 index fell by 13.1%, equivalent to 63.8 points, to reach the level of 424.89 points, compared to 488.71 points.
The French “CAC” index lost 679 points, or 9.5%, to reach 6473.7 points, after it was trading at 7153.03 points at the end of last year, while the British “FTSE 100” index recorded the only increase among European markets, but by a slight increase of 0.9%, equivalent to 67 points, to reach the level of 7451.74 points, compared to its previous level at 7384.54 points.
In terms of Asian markets, the Japanese Nikkei index fell on the Tokyo Stock Exchange during the year 2022 by 9.4%, or the equivalent of 2697.2 points, to close at 26094.5 points, while the broader Topix index fell by 5.1%, equivalent to 100.6 points, to reach 1891.7 points.
The “SSI” Composite Index on the Shanghai Stock Exchange decreased by 550.5 points, or 15.1%, to close at 3089.26 points, while the “Hang Seng” index closed down by 15.5%, equivalent to 3616.3 points, to reach the level of 19781.4 points.
Mustafa Badr El Din / Ramy Samih