Wall Street

Stock Market Today – 6/30: Stocks Tumble As Powell Warns of ‘Pain’ Required To Tame Inflation With Rate Hikes

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By Martin Baccardax Global central bankers aren’t taking their foot from the rate hike pedal, even if its means near-term recession, and that has stocks facing their worst start to the year since 1970. U.S. equity futures slumped lower Thursday as global stocks look set to close out their worst first half start on record amid concerns that central bank rate hikes, aimed at taming inflation, will instead tip major world economies into recession. That view was largely underscored by comments from Federal Reserve Chairman Jerome Powell, who told a conference of central bankers in Portugal that fa…

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