Wall Street begins second-half with losses on economic growth worries

Dow Jones Industrial Average was down 114.85 points, or 0.37%, at 30,660.58, the S&P 500 was down 9.89 points, or 0.26%, at 3,775.49

Wall Street started the second half of the year on a dull note on Friday as investors worried over the risks to economic growth from the Federal Reserve's resolve to curb rising prices at all costs.

As the era of cheap money draws to a close and a cycle of higher interest rates sets in, investors for much of the year have been selling equities, pushing the S&P 500 to close out its worst first six months since 1970 on Thursday.

"The first half was really ugly. So expectations would be that we should settle up here," Joe Saluzzi, co-manager