US Stocks down..S&P 500 posts worst 1H since 1970

Wall Street declined sharply on Thursday and the S&P 500 capped its worst first half in more than 50 years.

The S&P 500 posted its worst first half of the year since 1970, hurt by worries about surging inflation and Federal Reserve rate hikes, as well as Russia’s ongoing war on Ukraine and Covid-19 lockdowns in China.

The Nasdaq fell by the largest percentage ever in the January-June period, while the Dow Jones suffered its biggest semi-annual loss since 1962.

According to preliminary data, the Standard & Poor’s 500 ended the trading session down 32.58 points, or 0.85 percent, to 3786.52 points, while the Nasdaq Composite Index fell 146.95 points, or 1.31 percent, to close at 11030.95 points.

The Dow Jones Industrial Average was not better than its predecessors, as it also fell 219.61 points, or 0.71%, to 30,809.70 points.