Markets post their worst first half in decades

Global markets closed their deadliest first half in decades, leaving investors bracing for the prospect of further losses.

Accelerating inflation and rising interest rates fueled a months-long rout that left few markets unscathed. The S&P 500 fell 21% through Thursday, suffering its worst first half since 1970, according to Dow Jones Market Data. Investment-grade bonds, as measured by the iShares Core US Aggregate Bond exchange-traded fund, fell 11%, posting their worst start to the year on record.