US stocks fall broadly as S&P 500 ends worst year since 2008

US stocks fall broadly as S&P 500 ends worst year since 2008.

NEW YORK — Stocks fell in afternoon trading on Wall Street 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% as of 12:01 p.m. Eastern. The index, which is considered a benchmark for the broader market by investors, is on track to end 2022 with a 20% loss. That would mark its worst loss since the financial crisis 14 years ago.

The Nasdaq composite fell 0.7% and is on track for a much steeper annual loss

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