The S&P 500 Hasn’t Had Such a Bad First Half Since the Nixon Era
- US benchmark index is set for worst first-half since 1970
- SocGen’s Kabra predicts index could crash another ~30%
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The S&P 500 is now poised for its worst first half since Richard Nixon’s presidency.
With just seven trading days left until the end of June, the index is down 21% since the beginning of the year amid expectations that a toxic mix of high inflation and a hawkish Federal Reserve will tip the US economy into a recession. The last time the S&P 500 had fallen this much during the first six months of any year was in 1970, according to data compiled by Bloomberg.