As we emerge out of a rough year dominated by soaring inflation, slowing global growth, heightened geopolitical risks and Covid-19, the early part of 2023 looks like it could be more of the same story.

This year has been fraught with market volatility, to say the least. As we bid goodbye to 2022, let’s recap 3 major themes, each beginning with the letter F, that rocked major assets over the past 12 months:

Asian shares flashed red on Thursday, tracking declines in Wall Street overnight after the Federal Reserve signalled interest rates will climb higher than anticipated.

Asian shares were under attack on Tuesday, following the negative cues from Wall Street overnight as unexpectedly strong US data revived expectations of the Fed raising rates more than expected.