
Stocks suffered their worst first half of the year since 1970. What's next?
CBSN
Americans with stock portfolios or retirement investment plans would likely prefer to forget the last six months.
The S&P 500, Wall Street's broad benchmark for many stock funds, lost 20% through the end of June after starting the year at an all-time high. It's the worst start to a year for stocks since 1970, according to calculations from Axios.
As the Federal Reserve has raised interest rates sharply, trying to tame the fiercest inflation in four decades, investors have grappled with uncertainty and fear. Higher rates can bring down inflation, but they also slow the economy, raising the risk of a recession. That's helped drag down the value of stocks, bonds, cryptocurrencies and other investments.

Trump's military parade tomorrow isn't the first in the U.S. — but they're rare. Here's a look back.
Washington — President Trump is hosting a parade celebrating the 250th anniversary of the U.S. Army on Saturday, bringing tanks and soldiers to the streets of Washington, D.C., for the capital's first major military parade in more than three decades.

A military parade through the streets of Washington, D.C., is being held to celebrate the U.S. Army's 250th anniversary on Saturday, June 14 — which also happens to be President Trump's 79th birthday. Army officials say about 6,600 soldiers, 150 vehicles and more than 50 aircraft are set to participate.