Another sharp sell-off led by tech added to Wall Street losses in April, leaving the S&P 500 with its biggest monthly skid since the pandemic's start.
The Dow Jones Industrial Average slumped more than 900 points Friday as another sharp sell-off led by technology added to Wall Street's losses in April, leaving the S&P 500 with its biggest monthly skid since the start of the pandemic.
A sharp drop in Amazon weighed on the market after the internet retail giant posted its first loss since 2015. The S&P 500 fell 155.57 points to 4,131.93. The Dow dropped 939.18 points to 32,977.21. The Nasdaq slid 536.89 points to 12,334.64. Prices for everything from food to gas have been rising as the economy recovers from the pandemic and there has been a big disconnect between higher demand and lagging supplies. Russia's invasion of Ukraine has only added to inflation worries as it drives price increases for oil, natural gas, wheat and corn.
Bond yields rose following the hot readings on inflation. The yield on the 10-year Treasury rose to 2.92% from 2.85%.
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