US STOCKS-Wall St ends 2022 with biggest annual drop since 2008 ...Middle East

U.S. stocks closed out 2022 lower on Friday, capping a year of sharp losses driven by aggressive interest rate hikes to curb inflation, recession fears, the Russia-Ukraine war and rising concerns over COVID cases in China. Wall Street's three main indexes booked their first yearly drop since 2018 as an era of loose monetary policy ended with the Federal Reserve's fastest pace of rate hikes since the 1980s.

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