Wall Street slides, Dow Jones set for worst first-half since 1962

S&P 500 headed for worst first-half since 1970; the tech-heavy Nasdaq Composite came off session lows but was still set for its largest declines ever for the first-half

US stocks slipped on Thursday, setting the Dow up for its worst first six months since 1962, on concerns that a dogged pursuit by central banks to tame inflation would hamper global economic growth.

Fears over slowing growth and surging prices have rippled through markets, with recession worries taking center stage as monetary policymakers across the world look to aggressively raise borrowing costs.

Federal Reserve Chair Jerome Powell on Wednesday vowed to not let the U.S. economy slip into a "higher inflation regime", even if it means raising interest rates to levels that put growth at risk.

The tech-heavy Nasdaq Composite came off