Growth Slowdown Raises Recession Risks

Equities Post Worst First Half Performance Since the 1970s.

Amid rising recession fears, inflation & interest rate concerns, and slowing economic growth, equities had their worst first half of the year in decades as the S&P 500 fell 20%. While value and broad-based emerging markets were only down 11% and 17%, respectively, growth stands to be the worst performer, given its 29% decline. Bonds also posted negative returns ranging from municipal bonds down 8% to investment grade corporates declining 16%. However, both crude oil and broad-based commodities were up, gaining 48% and 18%, respectively.