Honestly, the first half of 2022 was stubbornly brutal for financial markets as indices experienced historic lows, notably the S&P 500 lost 20.6% of value, the steepest decline since 1970. The MSCI Emerging Markets Index fell 17.5%, the third worst first half since the index’s inception, after 1998 and 2008. The MSCI All Country World Growth Index lost 27% over the same time period. The smaller company Russell 2000 Index fell by 24%, while the Nasdaq, which is heavily weighted toward technology and growth, fell by 30% year to date.

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