The dust has yet to settle on the dismal year Wall Street just had, as the major indexes continue to slide into 2023. The Dow pared much steeper losses in its final hour of trading, though it still finished the day in the red alongside the Nasdaq and S&P 500. Tech was hit the hardest amid a dismal fourth-quarter delivery report from Tesla (TSLA) and more production cuts out of Apple (AAPL). Meanwhile, the fear of additional interest rates into the new year maintains a tight grip on investors. 

GOLD HITS 6-MONTH PEAK

Recession concerns are weighing on oil prices after the International Monetary Fund predicted that one-third of the global economy will enter a recession. West Texas Intermediate (WTI) crude for the now most active, February delivery, shed $3.33, or 4.2%, to settle at $76.93 per barrel.

Gold hit a six-month high, thanks to a dip in bond yields. February-dated gold rose $19.90, or 1.1%, to settle at $1,846.10 per ounce on the day.

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