US stocks have recorded their worst first half in more than 50 years after a rout triggered by the Federal Reserve’s attempt to curb persistent inflation and exacerbated by gathering concerns over global growth.
The S&P 500 fell 0.88% on Thursday, leaving the blue-chip index down by 20.6 per cent in the first six months of 2022. Wall Street equities have not endured such a punishing start to a year since 1970, when equities sold off in response to a recession that ended what was up to that point the longest period of economic expansion in American history.
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