Good evening.
Markets slide, Bitcoin falls below $20,000 (again), and the S&P 500 suffers its worst first half of a year since 1970.
Let's dive in.
Markets
Here are today's market moves:
What Happened?
U.S. stocks fell on Thursday, wrapping up the final day of a brutal quarter for markets.
The stock market closed its worst first half of a year since 1970, with the S&P 500 down 21%.
What’s happening: Rising interest rates in 2022 have crushed risky bets across financial markets and fueled fears of a recession.
The crypto market fell on Thursday, with Bitcoin trading near $19,000. The world’s largest crypto fell 58% in Q2, its worst quarter since 2011.
Catch Up
U.S. IPO volume is down 95% from this point last year.
Three Arrows Capital, a large crypto hedge fund, officially falls into liquidation after not paying its debts.
When the S&P 500 has fallen at least 15% the first six months of the year, it has risen an average of 24% in the second half.