Economy

S&P 500 falls 20% in first 6 months of 2022, posting worst half since 1970

Dow Jones falls 15.3%, Nasdaq plummets 29.5%, Bitcoin off 59%

Övünç Kutlu   | 30.06.2022
S&P 500 falls 20% in first 6 months of 2022, posting worst half since 1970

ANKARA

The S&P 500 fell 20.6% in the first six months of this year, posting its worst half since 1970 as US stocks closed lower Thursday with recession worries that are fueled by the Federal Reserve's aggressive monetary tightening. 

The S&P lost 33 points, or 0.88%, to close the last trading day of June at 3,785.

The Dow fell 253 points, or 0.82%, to end the day at 30,775. The Nasdaq lost 149 points, or 1.33%, to finish at 11,028.

In the first six months of 2022, the Dow has fallen 15.3% and the Nasdaq plummeted 29.5%, according to data compiled by Anadolu Agency.

Bitcoin recorded its worst half of a year in history, as the world's biggest cryptocurrency by market cap dove 59% in the January-June period. It was trading below $19,000 by the final bell Thursday.

Gold fell 1.1% to $1,807 per ounce and silver was off 12.9% to $20.28 in the first half of 2022.

Oil prices posted losses for the month but recorded strong gains in the first half.

The price of international benchmark Brent crude rose 40.5% to $109 per barrel Thursday, while American benchmark West Texas Intermediate added 40.9% in the first six months, trading around $105.8 by the closing bell.

The VIX volatility index, also known as the fear index, was up 2% to 28.71.

The dollar index fell 0.4% to 104.70 and the 10-year US Treasury yield fell 2.5% to 3.015%.




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