A Recap of the Performance of Major US Stock Indexes on April 2
Stocks took a hit on April 2, delivering their worst performance in four weeks. Wall Street seemed to have hit the brakes on what had been a nearly unstoppable rally. The S&P 500 fell 0.7 percent, the Dow Jones Industrial Average lost 1 percent, and the Nasdaq composite gave back 1 percent.
Investors are growing increasingly concerned that the Federal Reserve may not cut interest rates as much as initially expected this year. This worry, coupled with fears that the US stock market has become overvalued after its significant surge since late October, has led to a dip in market confidence.
One of the sectors taking a significant hit on April 2 was health insurers, following the US government’s announcement of lower-than-expected rates for Medicare Advantage. This news sent shockwaves through the market, contributing to the overall decline.
Another notable decline was seen in Tesla’s stock price after the company reported its first-quarter deliveries. Investors were disappointed by the numbers, causing the electric vehicle manufacturer’s shares to tumble.
Here’s a breakdown of the major stock indexes’ performance on April 2:
– The S&P 500 fell by 37.96 points, or 0.7 percent, closing at 5,205.81.
– The Dow Jones Industrial Average dropped by 396.61 points, or 1 percent, finishing at 39,170.24.
– The Nasdaq composite decreased by 156.38 points, or 1 percent, ending at 16,240.45.
– The Russell 2000 index of smaller companies experienced a significant decline of 37.80 points, or 1.8 percent, closing at 2,065.04.
Looking at the overall performance for the week:
– The S&P 500 is down by 48.54 points, or 0.9 percent.
– The Dow is down by 637.13 points, or 1.6 percent.
– The Nasdaq is down by 139.01 points, or 0.8 percent.
– The Russell 2000 is down by 59.51 points, or 2.8 percent.
However, it’s important to keep in mind the year-to-date performance:
– The S&P 500 is still up by an impressive 435.98 points, or 9.1 percent.
– The Dow has gained 1,480.70 points, or 3.9 percent.
– The Nasdaq has seen a substantial increase of 1,229.10 points, or 8.2 percent.
– The Russell 2000 has also experienced growth, up by 37.96 points, or 1.9 percent.
While the stock market may have encountered a rough patch on April 2, it’s crucial to remember that the year has been favorable for investors thus far.
Disclaimer: The views and opinions expressed in this article are those of the authors and are meant for general informational purposes only. They should not be construed or interpreted as a recommendation or solicitation. The Epoch Times does not provide investment, tax, legal, financial planning, estate planning, or any other personal finance advice. The Epoch Times holds no liability for the accuracy or timeliness of the information provided.
