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US Markets: First Half Review.
The S&P500's more than 21% plunge was its biggest first-half fall since 1970. Its second quarter was the worst since the first quarter of 2020. And while the S&P500 just entered in a bear market, the Nasdaq, the tech stocks symbol, has taken an even bigger hit and has plunged more than 30% since its peak last November.
Key Highlights:
- $NFLX: -69.88% YTD (the worst performer in the S&P).
- $COIN: -80.47% YTD. Representative of the H1 crypto turmoil.
- Even megacaps like $META (-52.73%), $AMZN (-35.7%), and $AAPL (-23.67%) haven’t been spared.
From a style/factor point of view, only US high dividend paying stocks ($HDV) are "up" 0.18% YTD. Value ($VLUE) is down -16.2% YTD, Quality ($QUAL) fell by -22.72% YTD, and Growth ($IUSG) experienced the biggest drop of -27.48% YTD.
The tightening of monetary policy worldwide to fight inflation and leading to a probable recession has been the main driver the negative performance. This downward trend was intensified by Russia's invasion of Ukraine, which increased pressure on the supply chain and geopolitical issues.
Granted they are from overextended ATHs anyway, the decline YTD of some of these "household" names never fails to amaze me.
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