The Nasdaq Composite Index fell nearly 4.2% to 12,334.64 after Amazon reported a loss for the first quarter of 2022. According to CNBC, the S&P 500 fell 3.6% to 4,131.93 points while the Dow Jones fell 2.8% to 32,977.21 points.
For the whole of April, the Nasdaq fell more than 13%, marking its deepest monthly decline since October 2008. Meanwhile, the S&P 500 index is also down nearly 9% this month – the worst result since March 2020 when the Covid-19 epidemic began to break out in the US. America.
The stock market ended a dismal month in the context of investors facing a series of difficulties, from the tightening of monetary policy by the US Federal Reserve (FED), rising interest rates, persistent inflation, a spike in the number of Covid-19 cases in China and the crisis in Ukraine.
Amazon shares fell about 14%, the biggest drop since 2006 while Apple shares fell about 3.7% after management said supply chain constraints were denting revenue. next third quarter.
All 11 S&P 500 industry indexes fell. Worries in the US stock market increased as data showed that the personal consumption expenditures price index – the Fed’s inflation gauge – rose 0.9% in March after rising 0.5% in October. 2.
According to Reuters, the Fed is expected to meet next week while observers think the Fed will raise interest rates by 50 basis points to combat rising inflation. Signs of aggressive monetary policy tightening, conflict in Ukraine and China’s coronavirus lockdown have raised fears of an economic slowdown.
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