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Stocks fell in afternoon trading on Wall Street on Friday as major indexes close out a dismal year with lingering concerns about stubbornly hot inflation and a potential recession. The S&P 500 fell 0.7 per cent as of 12:01 pm Eastern. The index, which is considered a benchmark for the broader market by investors, is on track to end 2022 with a 20 per cent loss. That would mark its worst loss since the financial crisis 14 years ago. The Nasdaq composite fell 0.7 per cent and is on track for a much steeper annual loss of 33.5 per cent. The index is faring much worse this year because it is heavily made up of technology stocks that have been leading the broader market slump. The Dow Jones Industrial Average fell 210 points, or 0.6 per cent, to 33,007. It is on track for a 9.4 per cent loss this year. There was scant corporate or economic news for Wall Street to review on the last trading day of the year. Tesla stabilized from steep losses earlier in the week, though it is still on ...
World shares were mostly higher on Thursday after a wobbly day of trading yielded modest gains on Wall Street. Germany's DAX added 0.4 per cent to 13,075.05 while the CAC 40 in Paris edged 0.1 per cent higher to 6.230.03. Britain's FTSE 100 climbed 0.6 per cent to 7,320.71. The futures for the S and P 500 and the Dow industrials were up 0.3 per cent. A report on inflation at the wholesale level released on Wednesday showed that prices are still rising rapidly, with pressures building underneath the surface, even if overall inflation slowed. It echoed a report on inflation at the consumer level on Tuesday, which raised expectations for interest-rate hikes and triggered a rout for markets. Investors worry rate hikes by the Federal Reserve to cool surging prices could go too far in slowing the US economy and send it into a recession. The Fed is trying to avoid that outcome, but the latest inflation reports suggest that is becoming a more difficult task. But markets appeared to have