The S&P 500 has fallen 23% in 2022, marking its worst start to a year since 1932. 

Inflation and high fuel prices are also taking a toll on consumer confidence with an index of consumer sentiment dropping again in June to its lowest point since the inception of the survey in the late 1940s.

A group led by billionaire Walmart heir Rob Walton has agreed to purchase the Denver Broncos for $4.65 billion in a record-breaking transaction. The sale, which is still pending league approval, is far and away the richest ever for a North American sports team and doubles the high price for sales of NFL teams, which was previously about $2.3 billion.

Individual income tax collections are poised to reach $2.6 trillion, or 10.6% of the economy in the fiscal year that ends Sept. 30. That is up from 9.1% in 2021 and would mark a record in the 109-year history of the tax, topping the war-tax receipts of 1944 and the dot-com boom of 2000.

U.S. households boosted spending for a fourth straight month in April, but the rate at which they were setting aside savings fell to its lowest point in 14 years.

The national average price for a gallon of regular unleaded gas hit $4.62 as of Memorial Day, $1.58 higher than a year earlier and about 12% above the pre-2022 high of $4.11 set in 2008.

The stocks in the Russell 1000 with the highest dividend yields on Nov. 19, 2021, rose an average of 4% over the following six months. Shares of Russell 1000 companies without dividends fell an average of 29% over that time.

The Dow Jones Industrial Average closed Wednesday down 1164.52 points, or 3.6%, and the S&P 500 dropped 4%, or 165.17 points. The Dow and S&P recorded their worst percentage declines since June 11, 2020.

An exchange-traded fund tracking companies that have merged with SPACs is down about 30% for the year, a much sharper drop than the broader market.

The Securities and Exchange Commission estimates the plan will raise the cost to businesses to comply with its disclosure rules from $3.9 billion to $10.2 billion. The leap in expense equates to an ongoing additional cost of $420,000 a year on average for a publicly listed small company and $530,000 a year for a bigger firm, the SEC said.