Bidenomics: S&P 500 Gives Up All Gains Under Biden - Suffers Worst Year Since 2008
- by: Matt Palumbo
- January 02, 2023
- Source:
Silverloch
- 01/02/2023
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Photos by Getty Images
Biden kicked off 2022 by bragging in January about gains in the stock market under his tenure - that they hit "record after record" on his watch.
And now with 2022 behind us, Biden has officially set his latest stock market record - the worst annual performance since the 2008 meltdown.
As reported by Yahoo! Finance:
During one of the presidential debates during the 2020 election, Donald Trump predicted a market crash on Biden's watch, which the media and so-called "fact-checkers" proclaimed was false as stocks continued rising in 2021.
While stocks initially defied that prediction in 2021, as of writing, the S&P 500 has given back all its gains since Biden took office, and is now essentially flat. The Dow Jones is still up 7% (for now) - while the tech-heavy NASDAQ has cratered over 22% since Biden took the helm.
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And now with 2022 behind us, Biden has officially set his latest stock market record - the worst annual performance since the 2008 meltdown.
As reported by Yahoo! Finance:
Stocks closed lower across the board on Friday to finish off the worst year for the U.S. stock market since the financial crisis.
With Friday's losses, the S&P 500 fell 19.4% in 2022, its largest calendar-year decline since a 38% drop in 2008. Closing at 3,839.50 on Friday, the S&P 500 now stands at the same level as March 2021.
The Nasdaq Composite dropped 33% and stands at the same level as July 2020.
The Dow, meanwhile, fell a comparably modest 9% in 2022, while the bond market suffered through its worst year in modern history.
With Friday's losses, the S&P 500 fell 19.4% in 2022, its largest calendar-year decline since a 38% drop in 2008. Closing at 3,839.50 on Friday, the S&P 500 now stands at the same level as March 2021.
The Nasdaq Composite dropped 33% and stands at the same level as July 2020.
The Dow, meanwhile, fell a comparably modest 9% in 2022, while the bond market suffered through its worst year in modern history.
During one of the presidential debates during the 2020 election, Donald Trump predicted a market crash on Biden's watch, which the media and so-called "fact-checkers" proclaimed was false as stocks continued rising in 2021.
While stocks initially defied that prediction in 2021, as of writing, the S&P 500 has given back all its gains since Biden took office, and is now essentially flat. The Dow Jones is still up 7% (for now) - while the tech-heavy NASDAQ has cratered over 22% since Biden took the helm.
Don't miss the Dan Bongino Show
Photos by Getty Images
