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The S&P 500 just had its worst first half in more than 50 years, which 'stressed' this classic investment strategy

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The S&P 500 Index, a barometer of U.S. stocks, just had its worst first half of the year going back over 50 years. The index fell 20.6% in the past six months, from its high-water mark in early January — the steepest plunge of its kind dating to 1970, as investors worried about decades-high inflation.

Meanwhile, bonds have suffered, too. The Bloomberg U.S. Aggregate bond index is down more than 10% year to date. The dynamic may have investors re-thinking their asset allocation strategy. More from Personal Finance:IRA rollovers often come with higher investment feesStudents are taking on 'unsustainable debt' for collegeJust 1% of people got a perfect score on this Social Security quiz While the 60/40 portfolio — a classic asset allocation strategy — may be under fire, financial advisors and experts don't think investors should sound the death knell for it.

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