Economy

progree

(11,463 posts) Fri Apr 29, 2022, 04:15 PM Apr 2022

Dow closes down 939 points (2.77%), S&P 500 down 3.63%, more than erasing yesterday's

big gains.

The S&P 500 is down 13.9% from its Jan 3 all-time high, and down 13.3% for the year to date. Setting us back to early April 2021 levels, a bit over a year ago.

Still 8.8% above the Jan 19, 2021 last close before inaugural day.

https://finance.yahoo.com/

S&P 500: https://finance.yahoo.com/quote/%5EGSPC/history?p=%5EGSPC

6 replies

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Dow closes down 939 points (2.77%), S&P 500 down 3.63%, more than erasing yesterday's (Original Post) progree Apr 2022 OP

The Nasdaq is really taking it on the chin: -4.17% nt Shermann Apr 2022 #1

At least April is over with, market-wise :) progree Apr 2022 #2

For the month of April: Dow down 4.9%, S&P 500 down 8.8%, Nasdaq down 13% progree Apr 2022 #3

Hope this isn't a trend. FloridaBlues Apr 2022 #4

But I suspect it will be - until the mid-terms anyway peppertree Apr 2022 #5

It probably is Warpy Apr 2022 #6

Shermann

(8,647 posts)

1. The Nasdaq is really taking it on the chin: -4.17% nt

Reply to progree (Original post)

Fri Apr 29, 2022, 04:26 PM

Apr 2022

progree

(11,463 posts)

2. At least April is over with, market-wise :)

Reply to Shermann (Reply #1)

Fri Apr 29, 2022, 04:35 PM

Apr 2022

S&P 500 dropped 8.8% in April.

progree

(11,463 posts)

3. For the month of April: Dow down 4.9%, S&P 500 down 8.8%, Nasdaq down 13%

Reply to progree (Original post)

Fri Apr 29, 2022, 04:49 PM

Apr 2022

Emily McCormick, Yahoo Finance, 4/29/22

https://finance.yahoo.com/news/stock-market-news-live-updates-april-29-2022-222314612.html

The S&P 500, Dow Jones Industrial Average and Nasdaq Composite each sank. The S&P 500 ended Friday's session lower by 3.6%, and dropped about 8.8% for April to post its worst monthly performance since March 2020. The Dow dropped 4.9% for the month. The Nasdaq Composite was the biggest laggard, sliding by more than 13% in April alone in the index's worst month since October 2008.

FloridaBlues

(4,368 posts)

4. Hope this isn't a trend.

Reply to progree (Original post)

Fri Apr 29, 2022, 05:02 PM

Apr 2022

peppertree

(22,850 posts)

5. But I suspect it will be - until the mid-terms anyway

Reply to FloridaBlues (Reply #4)

Fri Apr 29, 2022, 06:41 PM

Apr 2022

Wall Street has learned how to use the market to handicap one or the other party's chances in a major election.

And you better believe they intend to do just that.

Warpy

(113,130 posts)

6. It probably is

Reply to FloridaBlues (Reply #4)

Fri Apr 29, 2022, 07:39 PM

Apr 2022

Corporations have been awash with cash for the last several years, especially over the last 2 years. Since they weren't interested in hiking pay for their workers or issuing bigger dividends and there was only so much the C level execs could sop up before the tar and feathers came out, they turned to stock buybacks, and they bought back one hell of a lot of it.

Now we're in a steep inflationary period and they're not awash in all that cash any more. While I don't see them dumping all that stock they bought up, I don't honestly see them buying more, either. That means a lot fewer dollars chasing the same stock and that means the market is headed for a hangover after a long binge. Small investors are facing the inflationary problem, too, and the pool of buyers is getting smaller as frills like food and shelter take precedence.

I'm just hoping the steep drops don't last long, they could turn really bad really quickly.

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