MM071: US stocks suffer sharpest first-half drop for more than 50 years

Yesterday saw H1 2022 draw to a conclusion with the S&P 500 closing down 20.6% year-to-date making the worst first six months of any year since 1970.We discuss why stocks have had such a bad year and delve deeper into the diverging performances of the different equity sectors. For example, exploring why the energy sector is up over 30% whilst the Consumer Discretionary sector is down over 30%. We discuss how the bounce in stocks last week was nothing to do with fundamentals and was actually driven by quarter end rebalancing.

We also discuss equity and debt capital markets and how the IPO space has collapsed in 2022 with funds raised in US IPOs at its lowest since 1999! Finally, we discuss private market capital raising and how the FinTech world is being forced to raise capital at much lower valuations than previous rounds and how this is impacting investor appetite and sentiment.

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