S&P 500 shares prepared to end their worst first half in more than 50 years on Thursday. The Dow Jones Industrial Average fell 73 points (0.3%). The S&P 500 fell 0.1% and the Nasdaq Composite Index fell 0.3%. All major averages reduce the most severe losses from the early hours of the day. The second quarter came to an end on Thursday. The Dow and the S&P 500 are in their worst three months since the first quarter of 2020, when stock prices fell after the COVID-19 lockdown. The tech-focused Nasdaq Composite has fallen more than 20% in the past three months, its worst since 2008.
The first half of the S&P 500 was also the worst since 1970, when a lot of market pressures dominated. Rising inflation and the Fed's rate hikes were top investors' top priorities, followed by Russia's ongoing war with Ukraine and China's blockade. All of this has fueled fears of an impending global recession. Courtney Garcia, senior asset adviser at Bain Capital Management, said that even if inflation peaks, it will last longer, but investors still have great opportunities in this environment. "The market will evaluate a recession before it actually happens, and that's what investors should focus on," she told Power Launch on Thursday. CNBC. “When there are periods like now, when markets are down more than 15% in the first half, as they have done so many times in history, the markets tend to have a very good second half. You can believe it.
