April was brutal on Wall Street as the Nasdaq Composite posted its worst monthly performance since 2008.
 | FRI, APR 29, 2022 | | | |
| DOW | | NAME | LAST | CHG | %CHG | | AAPL | 157.65 | -5.99 | -3.66% | | INTC | 43.59 | -3.25 | -6.94% | | VZ | 46.30 | -2.10 | -4.34% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | AAPL | 157.65 | -5.99 | -3.66% | | F | 14.16 | -0.46 | -3.15% | | AMD | 85.52 | -4.12 | -4.60% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AAPL | 157.65 | -5.99 | -3.66% | | AMD | 85.52 | -4.12 | -4.60% | | INTC | 43.59 | -3.25 | -6.94% | |
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April proved brutal on Wall Street as the Nasdaq Composite posted its worst monthly performance since 2008. Stocks sold off all the way to the bitter end as the Dow dropped more than 900 points Friday. Technology stocks bore the brunt of the bloodshed in April as investors eyed rising interest rates and persistent supply chain issues. |
Corporate earnings dispatches from mega-cap technology stocks mostly failed to alleviate investors' worries. Amazon on Friday dropped 14% — its biggest drop since 2006 — after reporting a surprise loss and issuing weak second-quarter guidance. "There's not going to be a great deal of forgiveness in the current environment if companies don't beat handily and also give pretty strong forward guidance … in the face of what are quite elevated valuation multiples," BMO Wealth Management's Yung-Yu Ma said. The Nasdaq Composite sits in bear market territory, 23.9% below its intraday high. |
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