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piggiesansan
2022-07-03

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Stocks Fall to Start the Quarter after the S&P 500 Posts Worst First Half since 1970

U.S. stocks slipped Friday after the S&P 500 closed out its worst first-half performance in decades.

Stocks Fall to Start the Quarter after the S&P 500 Posts Worst First Half since 1970

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The S&amp;P 500 shed 0.1% and the Nasdaq Composite fell 0.2%.</p><p>Micron Technology fell more than 5% on the back ofdisappointing fiscal fourth-quarter guidance. Several other chipmakers fell more than 1% with it including Nvidia, Qualcomm and Marvel. Western Digital and Micron lost 3%.</p><p>Shares of Kohl’s fell 18% after itcut its outlook for the fiscal second quarter, citing softer consumer spending, and terminated talks to sell its business, saying the retail environment has deteriorated since the beginning of its bidding process.</p><p>Thursday marked the end of the second quarter and the first half of the year. For the quarter, the S&amp;P 500 fell more than 16% – its biggest one-quarter fall since March 2020. For the first half, the broader market index dropped 20.6% for its largest first-half decline since 1970. It also tumbled into bear market territory, down more than 21% from a record high set early January.</p><p>The Dow Jones Industrial Average and Nasdaq Composite were not spared from the onslaught. The 30-stock Dow lost 11.3% in the second quarter, putting it down more than 15% for 2022. The Nasdaq, meanwhile, suffered its biggest quarterly drop since 2008, losing 22.4%. Those losses pushed the tech-heavy composite deep into bear market territory, down nearly 32% from an all-time high set in November. It’s also down 29.5% year to date.</p><p>Those steep first-half and quarterly losses come as investors grapple with sky-high inflation and tighter monetary policy. The core personal consumption expenditures index – the Federal Reserve’s preferred inflation gauge,rose 4.7% last month on a year-over-year basis. While that was slightly below a Dow Jones estimate, it was still near multidecade highs.</p><p>The Fed, in turn, has stepped up its efforts against the surge in prices, hiking by 0.75 percentage point in June. That was its biggest rate increase since 1994.</p><p>Both of these factors have resulted in escalating recession worries. First-quarter GDP contracted by 1.6%, and theAtlanta Federal Reserve’s GDPNow trackeris pointing to another 1% decline in economic output for the second quarter.</p><p>“If we have any words of comfort, it is that universal losses at this pace rarely take place in successive quarters, but this is not the same as saying that further losses should not be anticipated,” wrote Michael Shaoul of Marketfield Asset Management. “This still very much looks to be the middle of the story, the period in which a previously ‘pacific’ outlook is replaced by something far stormier, and we are yet to see any signs that the weather is about to turn for the better.”</p><p>Traders will take in more economic data Friday, with the latest ISM manufacturing index and construction spending numbers set for release at 10 a.m. ET.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks Fall to Start the Quarter after the S&P 500 Posts Worst First Half since 1970</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks Fall to Start the Quarter after the S&P 500 Posts Worst First Half since 1970\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-07-01 21:32</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>U.S. stocks slipped Friday after the S&amp;P 500 closed out its worst first-half performance in decades.</p><p>The Dow Jones Industrial Average traded 79 points lower, or 0.2%. The S&amp;P 500 shed 0.1% and the Nasdaq Composite fell 0.2%.</p><p>Micron Technology fell more than 5% on the back ofdisappointing fiscal fourth-quarter guidance. Several other chipmakers fell more than 1% with it including Nvidia, Qualcomm and Marvel. Western Digital and Micron lost 3%.</p><p>Shares of Kohl’s fell 18% after itcut its outlook for the fiscal second quarter, citing softer consumer spending, and terminated talks to sell its business, saying the retail environment has deteriorated since the beginning of its bidding process.</p><p>Thursday marked the end of the second quarter and the first half of the year. For the quarter, the S&amp;P 500 fell more than 16% – its biggest one-quarter fall since March 2020. For the first half, the broader market index dropped 20.6% for its largest first-half decline since 1970. It also tumbled into bear market territory, down more than 21% from a record high set early January.</p><p>The Dow Jones Industrial Average and Nasdaq Composite were not spared from the onslaught. The 30-stock Dow lost 11.3% in the second quarter, putting it down more than 15% for 2022. The Nasdaq, meanwhile, suffered its biggest quarterly drop since 2008, losing 22.4%. Those losses pushed the tech-heavy composite deep into bear market territory, down nearly 32% from an all-time high set in November. It’s also down 29.5% year to date.</p><p>Those steep first-half and quarterly losses come as investors grapple with sky-high inflation and tighter monetary policy. The core personal consumption expenditures index – the Federal Reserve’s preferred inflation gauge,rose 4.7% last month on a year-over-year basis. While that was slightly below a Dow Jones estimate, it was still near multidecade highs.</p><p>The Fed, in turn, has stepped up its efforts against the surge in prices, hiking by 0.75 percentage point in June. That was its biggest rate increase since 1994.</p><p>Both of these factors have resulted in escalating recession worries. First-quarter GDP contracted by 1.6%, and theAtlanta Federal Reserve’s GDPNow trackeris pointing to another 1% decline in economic output for the second quarter.</p><p>“If we have any words of comfort, it is that universal losses at this pace rarely take place in successive quarters, but this is not the same as saying that further losses should not be anticipated,” wrote Michael Shaoul of Marketfield Asset Management. “This still very much looks to be the middle of the story, the period in which a previously ‘pacific’ outlook is replaced by something far stormier, and we are yet to see any signs that the weather is about to turn for the better.”</p><p>Traders will take in more economic data Friday, with the latest ISM manufacturing index and construction spending numbers set for release at 10 a.m. ET.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1116072488","content_text":"U.S. stocks slipped Friday after the S&P 500 closed out its worst first-half performance in decades.The Dow Jones Industrial Average traded 79 points lower, or 0.2%. The S&P 500 shed 0.1% and the Nasdaq Composite fell 0.2%.Micron Technology fell more than 5% on the back ofdisappointing fiscal fourth-quarter guidance. Several other chipmakers fell more than 1% with it including Nvidia, Qualcomm and Marvel. Western Digital and Micron lost 3%.Shares of Kohl’s fell 18% after itcut its outlook for the fiscal second quarter, citing softer consumer spending, and terminated talks to sell its business, saying the retail environment has deteriorated since the beginning of its bidding process.Thursday marked the end of the second quarter and the first half of the year. For the quarter, the S&P 500 fell more than 16% – its biggest one-quarter fall since March 2020. For the first half, the broader market index dropped 20.6% for its largest first-half decline since 1970. It also tumbled into bear market territory, down more than 21% from a record high set early January.The Dow Jones Industrial Average and Nasdaq Composite were not spared from the onslaught. The 30-stock Dow lost 11.3% in the second quarter, putting it down more than 15% for 2022. The Nasdaq, meanwhile, suffered its biggest quarterly drop since 2008, losing 22.4%. Those losses pushed the tech-heavy composite deep into bear market territory, down nearly 32% from an all-time high set in November. It’s also down 29.5% year to date.Those steep first-half and quarterly losses come as investors grapple with sky-high inflation and tighter monetary policy. The core personal consumption expenditures index – the Federal Reserve’s preferred inflation gauge,rose 4.7% last month on a year-over-year basis. While that was slightly below a Dow Jones estimate, it was still near multidecade highs.The Fed, in turn, has stepped up its efforts against the surge in prices, hiking by 0.75 percentage point in June. That was its biggest rate increase since 1994.Both of these factors have resulted in escalating recession worries. First-quarter GDP contracted by 1.6%, and theAtlanta Federal Reserve’s GDPNow trackeris pointing to another 1% decline in economic output for the second quarter.“If we have any words of comfort, it is that universal losses at this pace rarely take place in successive quarters, but this is not the same as saying that further losses should not be anticipated,” wrote Michael Shaoul of Marketfield Asset Management. “This still very much looks to be the middle of the story, the period in which a previously ‘pacific’ outlook is replaced by something far stormier, and we are yet to see any signs that the weather is about to turn for the better.”Traders will take in more economic data Friday, with the latest ISM manufacturing index and construction spending numbers set for release at 10 a.m. ET.","news_type":1},"isVote":1,"tweetType":1,"viewCount":393,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":3,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}