U.S. stocks traded lower in volatile trading following the declines in the energy market. The labor market remained tight in May and new job postings declined but remained elevated.
The decline in the U.S. bond yield powered the tech rally. Crude oil plunged 8% but natural gas braced for volatile trading on Norway supply worries. The British pound sank after two senior ministers quit and the euro fell to a two-decade low on recession fears.
Crude oil plunged 8% below $100 a barrel for the first time in six weeks as recession worries dragged market indexes across the Atlantic by 2%.
U.S. Treasury yields inch lower.
European markets declined more than 2% and the euro dropped 1to its lowest level in two decades on the growing recession fears and the war in Ukraine showing no signs of ending.
European markets closed mixed after Germany's exports declined unexpectedly in May and trade with the Russian Federation continued to shrink. Turkey's inflation in June surged to a 24-year high after energy prices soared.
The Asian markets closed mixed after authorities in China reimposed mass testing in several cities in eastern region. Japan endured sweltering heat after temperatures rose to a record high in decades. The Korean market indexes closed to a new 20-month low.
U.S. stocks started the second-half on a higher note, bond yields fell and energy prices rose. Economies around the world signaled slowdown on rising input costs. Inflation in Europe accelerated after energy prices surged 42%.
General Motors lowered its earnings outlook for the second quarter. Micron Technology dropped after releasing its fourth quarter outlook. Kohl's terminated business sales talk and deepened quarterly sales decline.
U.S. stocks struggled to move higher on the first day of the month and reacted to corporate news. U.S. manufacturing activities declined in June but activities stalled in Europe and Asia as supply chain constraints and elevated input costs dominated.
European markets were on the defensive after the eurozone inflation accelerated on a 42% jump in energy prices in June from a year ago. Italy joined France, Germany and Spain in reporting elevated inflation this week.
Asian market indexes traded lower after Japan's business confidence declined and jobless rate rose. China's manufacturing activities expanded and home sales rebound according to private surveys.
U.S. indexes fell the most in the first-half in five decades with consumers' health in question and the economy facing steeper path of rate hikes and inflation level uncertainties.
Stocks on Wall Street dropped on the final day of the quarter and major indexes are set to register their worst first half since 1970. Inflation worries gripped the market with the release of latest data.
European markets dropped 2% after investors digested latest unemployment data across the region. French inflation rose at the fastest pace since 1999 on higher food and energy prices.
