S&P 500 Posts Worst First Half Since 1970| MENAFN.COM

Wednesday, 17 August 2022 07:29 GMT

S&P 500 Posts Worst First Half Since 1970


(MENAFN- Baystreet.ca) S&P 500 posts worst first half since 1970






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Stocks in the U.S. fell sharply on Thursday, following a mixed trading day with the S&P 500 notching its worst first half in more than 50 years.
The Dow Jones Industrial Average shed 253.88 points, or 0.8%, to 30,775.43. The S&P 500 slid nearly 0.9% to 3,785.38, and the Nasdaq Composite pulled back by 1.3% to 11,028.74.
Home retail stocks dragged the market lower as high-end furniture chain RH saw shares drop about 25%, after it issued a profit warning for the full year. Wayfair and Williams-Sonoma were also lower by 9.57% and 4.44%, respectively.
The core personal consumption expenditures price index, the Fed's preferred inflation measure, rose 4.7% in May, the Commerce Department reported Thursday.
The Chicago PMI, which tracks business activity in the region, came in at 56, below estimates of 58.3.
Weekly initial jobless claims inched lower, falling 2,000 to 231,000 in the week ended June 25.
The benchmark 10-year note yields fell to 3.057%.
Oil prices fell in volatile trading on Thursday as concerns over global supply appeared to outweigh a build in U.S. fuel product inventories. Brent crude futures for September, were down $1.98, or 1.77%, at $109.78 a barrel.
August gold futures were last down $11.29 at $1807.53.









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