Blowing the Froth: June 18, 2022

Good morning and welcome to the Weekender for Saturday, June 18, 2022. In an “almost everything is down week,” the equity market, as measured by the S&P 500, was lower by -5.8%. It was the worst week since the height of the coronavirus-fueled sell-off in 2020. Stocks entered a bear market on Monday, which is defined as a negative return from a high of at least 20%. On a year-to-date basis, the S&P 500 is lower by -22.9%. By comparison, the tech heavy NASDAQ is lower by -30.9%