Author: The Associated Press

KYIV, Ukraine (AP) — Multiple blasts rocked Kyiv and other areas of Ukraine on Saturday, killing at least one person and wounding 14 others, in a sign that the pace of Russia attacks had picked up before New Year’s.

Some Ukrainians defied the danger, however, to return to the country to reunite with families for the holidays.

Ukrainian officials claimed Russia was now deliberately targeting civilians, seeking to create a climate of fear to see out the year grimly and usher in a bloody 2023.

First lady Olena Zelenska expressed outrage that such massive missile attacks could come just before New Year’s Eve celebrations.

“Ruining lives of others is a disgusting habit of our neighbors,” she said.

The blasts also came at an unusually quickened rhythm, one that alarmed officials just 36 hours after Russia launched a barrage of missiles on Thursday to damage energy infrastructure facilities.

Ukrainian Foreign Minister Dmytro Kuleba highlighted the harsh civilian toll of this latest offensive — that “this time, Russia’s mass missile attack is deliberately targeting residential areas, not even the energy infrastructure.”

The deadly blast in the Ukrainian capital occurred among the multi-story residential buildings of the Solomianskyi district. One person wounded in the attacks is in a critical condition, according to Kyiv Mayor Vitali Klitschko. He said two schools were damaged, including a kindergarten.

Various residential buildings and civilian infrastructure were damaged in Kyiv on Saturday afternoon as part of massive attacks spanning the country. A top official in the president’s office, Kyrylo Tymoshenko, published photos and video of a partially collapsed six-story hotel in Kyiv. Mayor Klitschko said a Japanese journalist was among those injured in the capital.

Russia launched 20 cruise missiles over Ukraine on Saturday afternoon, of which Ukrainian forces shot down 12, according to Ukrainian military chief Gen. Valerii Zaluzhnyi.

Ukrainian President Volodymyr Zelenskyy published a video address shortly after Russia launched the New Year’s Eve cruise missiles over Ukraine saying that Russian President Vladimir Putin is “hiding behind the military, behind missiles, behind the walls of his residences and palaces.” Addressing the Russians, he added that “no one in the world will forgive you for this. Ukraine will not forgive.”

At least four civilians were wounded in the Khmelnytskyi province of western Ukraine, according to regional Gov. Serhii Hamalii. Six people were wounded in the southern region of Mykolaiv.

Mykolaiv Gov. Vitalii Kim said that the Russians were targeting civilians more directly than just by attacking infrastructure as in the past.

“In many cities residential areas, hotels, just roads and garages are affected,” he wrote on Telegram.

In Zaporizhzhia region, as a result of a missile attack, two houses were destroyed, and around eight damaged. Four people were also wounded, among them a pregnant woman and a 14-year-old girl, said regional Gov. Oleksandr Starukh.

Even though Russia’s 10-month war rumbles on with no end in sight, for some families the new year is nevertheless a chance to reunite, however briefly, after months apart.

At Kyiv’s central railway station on Saturday morning, Mykyta, still in his uniform, gripped a bouquet of pink roses tightly as he waited on platform 9 for his wife Valeriia to arrive from Poland. He hadn’t seen her in six months.

“It actually was really tough, you know, to wait so long,” he told The Associated Press after hugging and kissing Valeriia.

Nearby, another soldier, Vasyl Khomko, 42, joyously met his daughter Yana and wife Galyna who have been living in Slovakia due to the war, but returned to Kyiv to spend New Year’s Eve together.

Back in February, fathers, husbands and sons had to stay behind as their wives, mothers and daughters boarded trains with small children seeking safety outside the country. Scenes of tearful goodbyes seared television screens and front pages of newspaper across the world.

But on the last day of the year marked by the brutal war, many returned to the capital to spend New Year’s Eve with their loved ones, despite the ongoing Russian attacks.

As Russian attacks continue to target power supplies leaving millions without electricity, no big celebrations are expected and a curfew will be in place as the clock rings in the new year. But for most Ukrainians being together with their families is a luxury.

Valeriia first sought refuge from the conflict in Spain but later moved to Poland. Asked what their New Year’s Eve plans were, she answered simply: “Just to be together.”

The couple declined not to share their family name for security reasons as Mykyta has been fighting on the front lines in both southern and eastern Ukraine.

On platform 8, another young couple reunited. University student Arseniia Kolomiiets, 23, has been living in Italy. Despite longing to see her boyfriend Daniel Liashchenko in Kyiv, Kolomiiets was scared of Russian missiles and drone attacks.

“He was like, ‘Please come! Please come! Please come!’” she recalled. “I decided that (being) scared is one part, but being with beloved ones on the holidays is the most important part. So, I overcome my fear and here I am now.”

Although they have no electricity at home, Liashchenko said they were looking forward to welcoming 2023 together with his family and their cat.

Natalya Kontonenko had traveled from Finland. It was the first time she had seen her brother Serhii Kontonenko since the full-scale invasion began on Feb. 24. Serhii and other relatives traveled from Mykolaiv to Kyiv to meet Natalya.

“We are not concerned about the electricity, because we are together and that I think is the most important,” he said.

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LONDON (AP) — Cristiano Ronaldo completed a lucrative move to Saudi Arabian club Al Nassr on Friday in a deal that is a landmark moment for Middle Eastern soccer but will see one of Europe’s biggest stars disappear from the sport’s elite stage.

Al Nassr posted a picture on social media of the five-time Ballon d’Or holding up the team’s jersey after Ronaldo signed a deal until June 2025, with the club hailing the move as “history in the making.”

“This is a signing that will not only inspire our club to achieve even greater success but inspire our league, our nation and future generations, boys and girls to be the best version of themselves,” the club wrote.

It also gives the 37-year-old Ronaldo a massive payday in what could be the final contract of his career. Media reports have claimed the Portugal star could be earning up to $200 million a year from the deal, which would make him the highest-paid soccer player in history.

Ronaldo said in a statement that he was “eager to experience a new football league in a different country.”

“I am fortunate that I have won everything I set out to win in European football and feel now that this is the right moment to share my experience in Asia,” the forward added.

While the signing is a massive boost for Middle Eastern soccer, it will also fuel the debate about Saudi Arabia using so-called “sportswashing” to boost the country’s image internationally. Saudi Arabia’s sovereign wealth fund owns Premier League team Newcastle, and the country is considering a bid to host the 2030 World Cup.

Ronaldo had been a free agent after his contract was terminated by Manchester United following an explosive TV interview in which he criticized manager Erik ten Hag and the club’s owners after having been repeatedly benched and even temporarily suspended by the club.

He is also coming off a disappointing World Cup where he was benched in the knockout rounds and left the field in tears after Portugal lost in the quarterfinals to Morocco.

And after a storied career that saw him win the Champions League with both United and Real Madrid, along with league and cup titles in England, Spain and Italy, he will now seemingly see out the last years of his career far away from the spotlight of top European soccer.

While Saudi Arabia earned its biggest international soccer win ever at the World Cup in Qatar last month when it beat eventual champion Argentina in its first group-stage game, the domestic league has few other stars and is not watched by a major international audience.

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Wall Street capped a quiet day of trading with more losses Friday, as it closed the book on the worst year for the S&P 500 since 2008.

The benchmark index finished with a loss of 19.4% for 2022, or 18.1%, including dividends. It’s just its third annual decline since the financial crisis 14 years ago and a painful reversal for investors after the S&P 500 notched a gain of nearly 27% in 2021. All told, the index lost $8.2 trillion in value, according to S&P Dow Jones Indices.

The Nasdaq composite, with a heavy component of technology stocks, racked up an even bigger loss of 33.1%.

The Dow Jones Industrial Average, meanwhile, posted an 8.8% loss for 2022.

Stocks struggled all year as inflation put increasing pressure on consumers and raised concerns about economies slipping into recession. Central banks raised interest rates to fight high prices. The Federal Reserve’s aggressive rate hikes remain a major focus for investors as the central bank walks a thin line between raising rates enough to cool inflation, but not so much that they stall the U.S. economy into a recession.

The Fed’s key lending rate stood at a range of 0% to 0.25% at the beginning of 2022 and will close the year at a range of 4.25% to 4.5% after seven increases. The U.S. central bank forecasts that will reach a range of 5% to 5.25% by the end of 2023. Its forecast doesn’t call for a rate cut before 2024.

Rising interest rates prompted investors to sell the high-priced shares of technology giants such as Apple and Microsoft as well as other companies that flourished as the economy recovered from the pandemic. Amazon and Netflix lost roughly 50% of their market value. Tesla and Meta Platforms, the parent company of Facebook, each dropped more than 60%, their biggest-ever annual declines.

Russia’s invasion of Ukraine worsened inflationary pressure earlier in the year by making oil, gas and food commodity prices even more volatile amid existing supply chain issues. Oil closed Friday around $80, about $5 higher than where it started the year. But in between oil jumped above $120, helping energy stocks post the only gain among the 11 sectors in the S&P 500, up 59%.

China spent most of the year imposing strict COVID-19 policies ,which crimped production for raw materials and goods, but is now in the process of removing travel and other restrictions. It’s uncertain at this point what impact China’s reopening will have on the global economy.

The Fed’s battle against inflation, though, will likely remain the overarching concern on Wall Street in 2023, according to analysts. Investors will continue searching for a better sense of whether inflation is easing fast enough to take pressure off of consumers and the Fed.

If inflation continues to show signs of easing, and the Fed reins in its rate-hiking campaign, that could pave the way for a rebound for stocks in 2023, said Jay Hatfield, CEO of Infrastructure Capital Advisors.

“The Fed has been the overhang on this market, really since November of last year, so if the Fed pauses and we don’t have a major recession, we think that sets us up for a rally,” he said.

There was scant corporate or economic news for Wall Street to review Friday. That, plus the holiday shortened week, set the stage for mostly light trading.

The S&P 500 fell 9.78 points, or 0.3%, to finish at 3,839.50. The index posted a 5.9% loss for the month of December.

The Dow dropped 73.55 points, or 0.2%, to close at 33,147.25. The Nasdaq slipped 11.61 points, or 0.1%, to 10,466.48.

Tesla rose 1.1%, as it continued to stabilize after steep losses earlier in the week. The electric vehicle maker’s stock plummeted 65% in 2022, erasing about $700 billion of market value.

Southwest Airlines rose 0.9% as its operations returned to relative normalcy following massive cancellations over the holiday period. The stock still ended down 6.7% for the week.

Small company stocks also fell Friday. The Russell 2000 shed 5 points, or 0.3%, to close at 1,761.25.

Bond yields mostly rose. The yield on the 10-Year Treasury, which influences mortgage rates, rose to 3.88% from 3.82% late Thursday. Although bonds typically fair well when stocks slump, 2022 turned out to be one of the worst years for the bond market in history, thanks to the Fed’s rapid rate increases and inflation.

Several big updates on the employment market are on tap for the first week of 2023. It has been a particularly strong area of the economy and has helped create a bulwark against a recession. That has made the Fed’s job more difficult, though, because strong employment and wages mean it may have to remain aggressive to keep fighting inflation. That, in turn, raises the risk of slowing the economy too much and bringing on a recession.

The Fed will release minutes from its latest policy meeting on Wednesday, potentially giving investors more insight into its next moves.

The government will also release its November report on job openings Wednesday. That will be followed by a weekly update on unemployment on Thursday. The closely-watched monthly employment report is due Friday.

Wall Street is also waiting on the latest round of corporate earnings reports, which will start flowing in around the middle of January. Companies have been warning investors that inflation will likely crimp their profits and revenue in 2023. That’s after spending most of 2022 raising prices on everything from food to clothing in an effort to offset inflation, though many companies went further and actually padded their profit margins.

Companies in the S&P 500 are expected to broadly report a 3.5% drop in earnings during the fourth quarter, according to FactSet. Analysts expect earnings to then remain roughly flat through the first half of 2023.

U.S. stock markets will be closed Monday in observance of the New Year’s Day holiday.