US stocks fall as S&P 500 concludes worst H1 since 1970

NEW YORK, July 1 — Wall Street stocks fell on Thursday, a fitting end to a bruising first half of 2022, finishing solidly lower after US data showed persistently high inflation pinching consumer spending.

The market has fallen most of the year, breaking the trend only in late March and for other brief stretches in a fairly steady retreat. Commerce Department data showed spending rose just 0.2 per cent in May, less than half the increase in April and part of a steady downward drift as consumers pull back amid surging prices.

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