*WALL STREET TUMBLES TO NEW 2022 LOW AS INVESTORS FRET ON RATE HIKES, RECESSION -
- Wall Street's main indexes slumped to close well down on Friday, as rattled investors continued repositioning themselves to reflect fears the U.S. Federal Reserve's hawkish rate policy to curb inflation will push the American economy into recession.
After enjoying hefty gains for last two years, Wall Street has been rocked in 2022 by worries about a host of issues including the Ukraine conflict, the energy crisis in Europe, China's COVID-19 flare ups, and tightening financial conditions across the globe. "There had been some optimists out there saying that inflation may be coming under control but the Fed effectively told them to sit down and shut up," said David Russell, VP of market intelligence at TradeStation Group.
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