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It was a year that investors will not look back on with great nostalgia, as all three leading benchmark indexes touched bear market territory before paring some of their losses. Year to date, the Dow Jones Industrial Average tumbled about 8 percent, the Nasdaq Composite Index cratered roughly 30 percent, and the S&P 500 Index dropped nearly 20 percent.
The downward trend in the U.S. financial markets was driven mainly by the Federal Reserve participating in an inflation-busting tightening campaign that involved raising interest rates by about 400 basis points. This resulted in a down year for stocks, precious metals, and cryptocurrencies. Even crude oil erased its 60 percent rally, caused by recession fears amid central banks tightening monetary policy....