The Stock Market Was Hammered In April

New York Times: “Runaway inflation, and the interest rate increases meant to contain it, will make life harder for consumers. A severe Covid lockdown in China and the invasion of Ukraine are adding to disruptions in the flow of goods across borders, contributing to rising food and energy prices, and threatening corporate profits.”

“On Wall Street in April, it all seemed to build to the same conclusion: The economy is about to take a hit.”

“That fear led to the S&P 500’s worst monthly decline since the March 2020 panic over the coronavirus. After a 3.6 percent plunge on Friday, the index was down 8.8 percent for the month. Stocks are now down more than 13 percent in 2022.”

Wall Street Journal: “An April rout in technology stocks deepened Friday, dragging the Nasdaq Composite toward its worst monthly performance in more than a decade.”