Six numbers that define 2022
A review of market developments in 2022 against history will help investors keep things in perspective and learn the right lessons
AS THE curtains come down on 2022, it’s time to reflect on the events that have defined the stock market for the year. There has been no shortage of uncertainty, ranging from the Ukraine-Russia war to sky-high inflation and aggressive interest rate hikes.
Amid the multitude of challenges we face as investors, it’s imperative to put everything into the proper context so that we may learn the right lessons from them, not the wrong ones. Six numbers come to mind.
January 2022: Four in 10 Nasdaq stocks halved
The Nasdaq peaked at around 16,200 points in late-November 2021 before ending the year down by less than 4 per cent from its high. But under the hood, cracks had started appearing for the tech-heavy index. In the first week of January, data from Sundial Capital Research showed that approximately four out of every 10 companies on the index were down by over 50 per cent from their 52-week highs.
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