US stocks fell yesterday as the S&P 500 concluded its worst first-half performance since 1970. The index has dropped 21% for the first half of 2022, dragged down by surging inflation, interest rate hikes, and geopolitical unrest. To curb inflation, the Federal Reserve raised interest rates by 75 basis points earlier in June, its most pronounced rate hike since 1994. Analysts now expect another 75 basis point hike at the Fed’s upcoming July meeting if inflation continues to run hot. Below are this week’s top headlines. Nike Nike reported its fiscal fourth-quarter earnings on Monday. Despite topping Wall Street’s expectations for quarterly profit and revenue, shares are down roughly 7% over the past five days. For the fourth quarter, Nike reported revenue of $12 billion. But the company expects first-quarter revenue to come in below estimates due to COVID-19 disruptions in China, its most profitable market. Additionally, ongoing challenges such as increased transportation costs and supply chain snarls are expected to weigh on Nike’s prospects....