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The U.S. stock market suffered one of its worst days of 2022 as the leading benchmark indexes fell sharply on Dec. 15, dashing hopes for a year-end Santa Claus rally.
Investors engaged in a broad-based selloff toward the end of the trading week. The Dow Jones Industrial Average (DJIA) plummeted as much as 919 points. The tech-heavy Nasdaq Composite Index plunged nearly 400 points, while the S&P 500 Index lost as much as 115 points.
Year to date, the Nasdaq has lost 30 percent, the S&P 500 has tumbled 18 percent, and the DJIA has slumped more than 8 percent.
Some of the biggest names on the New York Stock Exchange endured steep losses. Shares of Alphabet, Amazon, and Apple lost roughly 4 percent. Meta shed close to 6 percent, while Netflix plummeted 8.5 percent. Bank shares also slumped, with Bank of America and JPMorgan Chase declining 2 percent....