Stocks Retreat After Worst Start to Year in Decades

U.S. stocks moved lower to start the second half of the year, deepening the week’s losses, as fears mount that the Federal Reserve’s efforts to tame inflation could tip the economy into a recession.

The S&P 500 lost 0.8% early Friday, adding to the broad index’s Thursday decline that closed out the worst first half of the year since 1970. The S&P, which has dropped into a bear market, is on course to finish this week in the red for the 11th time in the last 13 weeks.