Global markets closed out their most bruising first half of a year in decades, leaving investors bracing for the prospect of further losses.

Accelerating inflation and rising interest rates have fueled a monthslong rout that left few markets unscathed. The S&P 500 fell 20% through Thursday heading for its worst first half of a year since 1970, according to Dow Jones Market Data. Investment-grade bonds, as measured by the iShares Core U.S. Aggregate Bond exchange-traded fund, lost about 11%—on course for their worst start to a year ever.

Stocks and bonds in emerging markets tumbled, hurt by slowing growth. And cryptocurrencies came crashing down, saddling individual investors and hedge funds alike with steep losses. 

Global markets closed out their most bruising first half of a year in decades, leaving investors bracing for the prospect of further losses.

Accelerating inflation and rising interest rates have fueled a monthslong rout that left few markets unscathed. The S&P 500 fell 20% through Thursday heading for its worst first half of a year since 1970, according to Dow Jones Market Data. Investment-grade bonds, as measured by the iShares Core U.S. Aggregate Bond exchange-traded fund, lost about 11%—on course for their worst start to a year ever.

Stocks and bonds in emerging markets tumbled, hurt by slowing growth. And cryptocurrencies came crashing down, saddling individual investors and hedge funds alike with steep losses. 

Pickleball, a genetic cross of tennis and ping pong played on a badminton-size court, is in a bit of a pickle.

The sport dates back to the 1960s but took off in recent years, especially during the pandemic. It’s the fastest-growing sport in America and is especially hot with the over-55 crowd, who, thanks to the game’s smaller dimensions, don’t have to run around like Rafael Nadal.

But there’s a problem that is driving some communities to distraction: Plastic perforated pickleballs make a sound like no other when whacked with the game’s solid, rectangular paddles.

Think of clucking one’s tongue—but through a bullhorn.

Pickleball, a genetic cross of tennis and ping pong played on a badminton-size court, is in a bit of a pickle.

The sport dates back to the 1960s but took off in recent years, especially during the pandemic. It’s the fastest-growing sport in America and is especially hot with the over-55 crowd, who, thanks to the game’s smaller dimensions, don’t have to run around like Rafael Nadal.

But there’s a problem that is driving some communities to distraction: Plastic perforated pickleballs make a sound like no other when whacked with the game’s solid, rectangular paddles.

Think of clucking one’s tongue—but through a bullhorn.

One of the simplest lessons of stock market history is that innovations often lead to bubbles and busts, from new tulip bulbs through canals and railways to the internet. Less well understood is that financial innovations count for double, as new tools expand the supply of what looks like money, allowing the bubble to grow larger—and the bust to be even more serious.

The cryptocurrency implosion currently under way followed rampant creation of new digital money, something that never ended well in the traditional world either.

The question for crypto enthusiasts is which lesson they should take from history. Are bitcoin and other crypto tokens crashing because of the usual excesses that accompany advances in finance? Or do they have some sort of fundamental flaws. 

One of the simplest lessons of stock market history is that innovations often lead to bubbles and busts, from new tulip bulbs through canals and railways to the internet. Less well understood is that financial innovations count for double, as new tools expand the supply of what looks like money, allowing the bubble to grow larger—and the bust to be even more serious.

The cryptocurrency implosion currently under way followed rampant creation of new digital money, something that never ended well in the traditional world either.

The question for crypto enthusiasts is which lesson they should take from history. Are bitcoin and other crypto tokens crashing because of the usual excesses that accompany advances in finance? Or do they have some sort of fundamental flaws. 

Businesses in several different industries are rescinding job offers they made just a few months ago, in a sign the tightest labor market in decades may be showing cracks.

Companies including Twitter Inc. , real-estate brokerage Redfin Corp. , and cryptocurrency exchange Coinbase Global Inc. have rescinded offers in recent weeks. Employers in other pockets of the economy are pulling away offers too, including some in insurance, retail marketing, consulting and recruiting services.

At the same time, many companies have signaled a more cautious hiring approach. Netflix Inc. , Peloton Interactive Inc. , Carvana Co. and others announced layoffs. Technology giants such as Facebook parent Meta Platforms Inc. and Uber Technologies warned they will dial back hiring plans.   

Businesses in several different industries are rescinding job offers they made just a few months ago, in a sign the tightest labor market in decades may be showing cracks.

Companies including Twitter Inc. , real-estate brokerage Redfin Corp. , and cryptocurrency exchange Coinbase Global Inc. have rescinded offers in recent weeks. Employers in other pockets of the economy are pulling away offers too, including some in insurance, retail marketing, consulting and recruiting services.

At the same time, many companies have signaled a more cautious hiring approach. Netflix Inc. , Peloton Interactive Inc. , Carvana Co. and others announced layoffs. Technology giants such as Facebook parent Meta Platforms Inc. and Uber Technologies warned they will dial back hiring plans.   

or Mackenzie Crocker, chats with friends and colleagues often turn to weddings. But Ms. Crocker has an unusually full bouquet of tidbits to add to the conversation. She expects to attend 18 wedding celebrations this year.

“Everyone and their mom in my life is getting married,” says Ms. Crocker, a 25-year-old from Conway, Ark. “It’s become a part of my personality at this point.”

The summer wedding season is upon us, and this time it’s coming down with the force of two tons of rice. Between nuptials delayed by the pandemic and those for recently engaged couples, this year could approach a record set in the 1980s for the number of marriages being celebrated. Ms. Crocker estimates more than half of her weekends over the past year featured a wedding, bridal shower or bachelorette party.

or Mackenzie Crocker, chats with friends and colleagues often turn to weddings. But Ms. Crocker has an unusually full bouquet of tidbits to add to the conversation. She expects to attend 18 wedding celebrations this year.

“Everyone and their mom in my life is getting married,” says Ms. Crocker, a 25-year-old from Conway, Ark. “It’s become a part of my personality at this point.”

The summer wedding season is upon us, and this time it’s coming down with the force of two tons of rice. Between nuptials delayed by the pandemic and those for recently engaged couples, this year could approach a record set in the 1980s for the number of marriages being celebrated. Ms. Crocker estimates more than half of her weekends over the past year featured a wedding, bridal shower or bachelorette party.