December 2022 Monthly Market Review

December was a difficult month for equities, as was the year. US equities, as measured by the S&P 500, fell 5.8%, bringing the index’s return for the year to -18.1%, its worst year since 2008. International developed equities eked out a small gain of 0.1%, helped by a falling US dollar. Finally, emerging market equities also fell 1.4% despite strong gains from China on reopening potential. Contributing to December’s performance were themes seen throughout 2022: continued hawkish central bank policy to combat inflation, the ongoing Russia-Ukraine conflict, and lingering fears of a recession. Read More/View PDF