Stocks in Disarray Six Months Into 2022

The end of the first half and second quarter of 2022 delivered another death blow to Wall Street. The Dow and S&P 500 finished deep in the red to wrap up their worst quarter since 2020, the former also logging its worst month since March 2020. That wasn't all for the S&P 500 either, which logged its worst first half of the year since 1970. Meanwhile, the tech-heavy Nasdaq saw its worst quarter since 2008.

It's a familiar laundry list of headwinds plaguing investors right now; high inflation across the globe, aggressive interest rate hikes, recession fears, the Russia-Ukraine conflict, and China's recent Covid-19 lockdowns. Today's core personal consumption expenditures price index for May, which revealed a 4.7% rise, only reinforced some of those fears. 

The Dow Jones Average (DJI -30,775.43) lost 253.9 points, or 0.8% for the day, 6.7% for the month, and 11.3% for the quarter. Travelers (TRV) led the gainers, adding 2%. Walgreens Boots Alliance (WBA) paced the laggards with a 7.3% drop.

The S&P 500 Index (SPX - 3,785.38) shed 33.5 points, or 0.9% for the day, 8.5% for the month, and 16.5% for the quarter. Meanwhile, the tech-heavy Nasdaq Composite (IXIC - 11,028.74) lost 149.2 points, or 1.3% for the session, 8.8% for the month, and 22.5% for the quarter. 

Lastly, the Cboe Market Volatility Index (VIX - 28.71) added 0.6 point, or 2% for the day, 9.5% for the month, and 39.5% for the quarter. 

OIL, GOLD PRICES END JUNE WITH LOSSES

Oil prices settled lower on Thursday to log a 7.8% monthly loss. However, black gold managed to net positive for the first half of the year, and tacked on 5.5% for the quarter. The commodity tumbled today, after the Organization of the Petroleum Exporting Countries and their allies (OPEC+) confirmed there will be a production boost in August. As a result, August-dated crude lost $4.02, or 3.7%, to settle at $109.78 per barrel.

Gold prices finished lower for a fourth consecutive session, closing out the month with a more than 2% deficit. The precious metal suffered as the U.S. dollar strengthened, and rising interest rates became more likely. For the day, August-dated gold fell $10.20, or 0.6%, to close at $1,807.30 an ounce -- its lowest level since February. Gold also gave back 7.5% for the quarter.