US stocks dipped on Thursday, with the major averages on track to post steep declines for the month of June and first half of 2022 as concerns over heightened inflation and the prospects of a recession weighed on risk assets.
Fed’s preferred inflation measure rose 4.7% in May, around multi-decade highs
Inflation held at stubbornly high levels in May, though the monthly increased was slightly less than expected, according to a Commerce Department gauge closely watched by the Federal Reserve.
Bitcoin on track for its worst quarter in more than a decade
Bitcoin on track for its worst quarter in more than a decade