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The S&P 500 declined 20% and the Nasdaq Composite dropped 33.9% in 2022 after the Federal Reserve raised rates seven times to combat 4-decade high inflation.

The FTSE 100 index eased 0.7% in 2022 and avoided the larger declines in other markets. Mining and energy companies accounting for 24% of index weight benefited from the rise in commodities prices.

The Hang Seng index dropped 15% in 2022 and extended its annual loss for the third year in a row as covid flare-up halted social mobility and restricted economic activities.

The Nikkei index posted its first annual loss in four years and closed down 11% in 2022.

The Sensex index increased 4% and advanced for the seventh year in a row and posted its smallest gain since 2016 when the index gained 1.95%.

Four-decade high inflation, ongoing war in Ukraine and unresolved energy crisis sapped market sentiment in Europe in 2022 and indexes posted the worst losses in four years between 10% and 17%.