Interest rate was hiked rapidly from 1% (in May 2022) to 4% (in Dec 3 2022). Oct 2022 recorded the lowest for S&P 500 since COVID (till now). COVID assistance

Interest rate was hiked rapidly from 1% (in May 2022) to 4% (in Dec 3 2022). Oct 2022 recorded the lowest for S&P 500 since COVID (till now). COVID assistance was over. Vaccination reached a critical majority. On Sep 2022, Biden declared "COVID-19 pandemic was over" [1]. Businesses got a reality check. 1: https://en.wikipedia.org/wiki/COVID-19_pandemic_in_the_United_States#October_to_December_2022:~:text=COVID%2D19%20pandemic%20was%20%22over%22 https://en.wikipedia.org/wiki/COVID-19_pandemic_in_the_Unite...