Tech Stocks Sink Again, Nasdaq Has Worst Month Since 2008
- Date: 30-Apr-2022
- Source: Huffpost
- Sector:Financial Markets
- Country:Gulf
Tech Stocks Sink Again, Nasdaq Has Worst Month Since 2008
Losses for technology stocks accelerated on Wall Street Friday afternoon, pushing the Nasdaq toward its biggest monthly loss since the 2008 financial crisis. A sharp drop in Amazon was also weighing on indexes after the internet retail giant posted its first loss since 2015.
The S&P 500 was down 3.1% as of 3:36 p.m. Eastern, with technology and communication stocks among the biggest drags on the benchmark index. The Dow Jones Industrial Average fell 741 points, or 2.1%, to 33,193 and the Nasdaq slid 3.5%.
Major indexes have been shifting between slumps and rallies throughout the week as the latest round of corporate earnings hit the market in force. Investors have been reviewing a particularly heavy batch of financial results from big tech companies, industrial firms and retailers.
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