What Did Wall Street Get Right About Markets This Year? Not Much.

The Federal Reserve raised interest rates at the fastest clip since the 1980s, a regional banking crisis felled Silicon Valley Bank, and war broke out in the Middle East. The S&P 500 is poised to finish the year up 25%, just 0.3% from its January 2022 record. A mania surrounding artificial intelligence and big technology stocks sent the Nasdaq Composite soaring 44%.