Stocks slide to close worst first half in 52 years: S&P 500 plunges 20.6% YTD, 8.4% in June. US stocks fell on Thursday, with the major averages logging steep declines for the month of June, second quarter and first half of 2022 as concerns over heightened inflation and the prospects of a recession weighed heavily on risk assets. Equities have been hit hard for months now as investors have weighed persistently hot inflation against risks of an economic downturn, as the Federal Reserve responds to inflation with faster tightening. Powell earlier in June suggested either a 50 or 75 basis point interest rate hike would most likely be on the table following the Fed's July meeting. And in the weeks since, a number of other key central bank officials have affirmed that the latter will probably be the most appropriate option, with inflation and consumer inflation expectations each remaining elevated.