THE NEW YORK TIMES: The S&P 500 plunged nearly 9 percent in April, its worst monthly decline since March 2020, as rising interest rates and high inflation raised concerns about consumer sentiment.
April wound up being the worst month for Wall Street since the March 2020 panic over the coronavirus, capped by a plunge in stocks on Friday.
The S&P 500 fell 8.8 percent for the month, and is down more than 13 percent in 2022, a drop that shows many investors are coming to the same conclusion: The economy is about to take a hit, and everywhere they look, they see trouble ahead.
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 worsening disruptions in the flow of goods across borders, contributing to rising food and energy prices, and threatening corporate profits.
On Friday alone, the S&P 500 slid 3.6 percent after the tech giants Amazon and Apple reported their results for the start of the year, crystallizing fears of rising costs and supply constraints. Analysts say Wall Street’s pessimism isn’t likely to end until the major concerns are resolved, and when that will happen seems impossible to know. » | Coral Murphy Marcos | Friday, April 29, 2022
