Stocks are closing out 2022 with more losses, giving the S&P 500 its worst year since 2008.

The benchmark index fell 0.3% Friday, the last trading day of the year, leaving it down 19.4% for the year. The technology-heavy Nasdaq and the Dow also fell and ended the year in the red.

The Fed's battle against inflation will likely remain investors' overarching concern in 2023, according to analysts. When Wall Street reopens after another long holiday weekend, investors will have several big updates on the employment market to digest in the first week of the new year.