Wall Street plunges, S&P 500 set for worst first-half since 1970

6/30/2022 5:45:00 PM

Wall Street plunges, S&P 500 set for worst first-half since 1970

Mktrep, Rep

Wall Street plunges, S&P 500 set for worst first-half since 1970

U.S. stocks tumbled on Thursday, setting the S&P 500 for its worst first six months since 1970, on concerns that central banks determined to tame inflation will hamper global economic growth.

was set for its biggest January-June percentage drop since the financial crisis.All the three main indexes are bound to post their second straight quarterly declines for the first time since 2015.Fed policymakers in recent days have set expectations for a second 75 basis points interest rate hike in July even as economic data painted a dour picture of the American consumer.

"People are raising cash going into earnings season," said Josh Wein, portfolio manager at Hennessy Funds."We've listened a lot to the Fed about what they're going to do. A lot of people are waiting to hear from companies as to what is actually happening and the state of the consumer, trying to get incremental info before they really commit to stocks."

Read more:
Reuters »

Fed's Powell: Rate hikes to slow, but adjustment just beginning

Federal Reserve Chair Jerome Powell said it was time to slow the pace of coming interest rate hikes while also signaling a protracted economic adjustment to a world where borrowing costs will remain high, inflation comes down slowly and the U.S. remains chronically short of workers. Read more >>

This president and his liberal cabinet is the worst thing our country has experienced in 50+ years. I don’t believe they could have tanked our country any worse, even if that was the plan. I’m disgusted.

S\u0026P 500 Forecast: Index Stabilizes WednesdayThe S&P 500 did very little Wednesday, and considering how rough the selloff was on Tuesday, one has to look at that as a bit of a moral victory. Forex Stocks

Nevada County wildfire threatens 500 buildingsA wildfire in Northern California has forced evacuations as it threatens about 500 homes and other buildings. Aut horities say the blaze erupted Tuesday afternoon near the Yuba River in Nevada

Northern California Wildfire Threatens 500 BuildingsA wildfire in Northern California has forced evacuations as it threatens about 500 homes and other buildings. Aut horities say the blaze erupted Tuesday afternoon near the Yuba River in Nevada County and has spread to more than 500 acres. Fire officials say power lines also are threatened in the Sierra Nevada area and there are unconfirmed reports that some buildings may have burned. Another blaze that erupted Tuesday morning in San Luis Obispo County threatened about 50 buildings and is only partially contained. However, no building damage or injuries are reported. They’re among several Northern California fires that erupted Tuesday as the state bakes under summer heat.

Santa Rosa man arrested for over 500 pounds of illegal fireworksIn mid-June, detectives from the Santa Rosa Police Department's Property Crimes Team received information about an individual that was in possession of a large quantities of illegal and dangerous fireworks.

Northern California Wildfire Threatens 500 StructuresA wildfire in Northern California has forced evacuations as it threatens about 500 homes and other buildings.

Primary sets the stage for showdown in Illinois legislature in first election since 1970 where Michael Madigan isn’t on the ballotSpeaker Welch looks to enhance or expand the House Democratic supermajority as GOP digs in for general election Corruption still reigns even without Madigan.

(.GET STARTED Supply chains continued to be stretched and stressed, and this is not good for the economy.A wildfire that erupted in Nevada County forced evacuations as it threatened about 500 homes and other buildings Tuesday, authorities said.Cal Fire Chief Warns of ‘Drastic Increase' in Dry Fuel Due to Drought Firefighters fought the blaze on the ground and in the air, with aircraft making dozens of drops of water and fire retardant.

DJI) was set for its biggest January-June percentage drop since the financial crisis. All the three main indexes are bound to post their second straight quarterly declines for the first time since 2015. In other words, there’s nothing that’s remotely close to being certain. Fed policymakers in recent days have set expectations for a second 75 basis points interest rate hike in July even as economic data painted a dour picture of the American consumer. near the Yuba River in Nevada County and had spread to more than 500 acres by nightfall, said Unit Chief Brian Estes of the California Department of Forestry and Fire Protection. "People are raising cash going into earnings season," said Josh Wein, portfolio manager at Hennessy Funds. The 3800 level has offered a little bit of support during the day, but if we manage to break down below there then I think it opens up the possibility of a move down to the 3700 level. "We've listened a lot to the Fed about what they're going to do. In Glenn County, a fire that charred more than 300 acres (121 hectares) was 65% contained.

A lot of people are waiting to hear from companies as to what is actually happening and the state of the consumer, trying to get incremental info before they really commit to stocks. This is a downtrend that has a lot of things working against it, so it’s not a huge surprise to see sellers come back into the market as they did during the previous session. At an evening news conference, however, Estes said he couldn't confirm reports that some buildings had been destroyed." Large-cap growth stocks including Microsoft Corp .