Dow Headed for Worst April Since 1932

Wall Street Journal: “The Dow Jones Industrial Average shed almost 1,000 points on Monday and is headed for its worst April performance since 1932, according to Dow Jones Market Data. The S&P 500’s performance since Inauguration Day is now the worst for any president up to this point in data going back to 1928, according to Bespoke Investment Group.”

“Worries about trade restrictions and the prospect of President Trump firing Federal Reserve Chairman Jerome Powell have investors bracing for greater losses ahead. Corporate earnings reports are rolling in, along with executives’ tariff-dented outlooks for the months ahead. Few think the administration’s negotiations with trade partners will yield results soon enough to ease the strain.”

Playbook: “History buffs will note 1932 was the year the Smoot–Hawley tariffs began to have their most severe impact, with the Great Depression nearing its peak.”