April was a tough month for the US stock market, culminating in even more losses on April 30. The S&P 500, Dow Jones Industrial Average, and Nasdaq composite all experienced significant declines, solidifying April as the worst month for the market since September.
The S&P 500 fell 1.6 percent on Tuesday, further distancing itself from the record high it reached at the end of March. The Dow Jones Industrial Average dropped 1.5 percent, while the Nasdaq composite sank 2 percent. These losses were fueled by rising Treasury yields, which put pressure on stocks. A report revealing higher-than-expected gains in pay and benefits for workers during the beginning of the year also contributed to the market’s downturn. This unexpected positive economic data reduced traders’ expectations for interest rate cuts by the Federal Reserve.
On Tuesday, the S&P 500 closed at 5,035.69, down 80.48 points or 1.6 percent. The Dow Jones Industrial Average finished at 37,815.92, down 570.17 points or 1.5 percent. The Nasdaq composite ended at 15,657.82, down 325.26 points or 2 percent. Additionally, the Russell 2000 index of smaller companies fell by 42.12 points or 2.1 percent to close at 1,973.91.
Looking at the week as a whole, the S&P 500 is down 64.27 points or 4.2 percent. The Dow is down 423.74 points or 5 percent, while the Nasdaq is down 270.08 points or 4.4 percent. The Russell 2000 has experienced the largest decline, falling by 28.09 points or 7.1 percent.
However, when considering the performance of these indexes for the year, there is still some positive news. The S&P 500 is up 265.86 points or 5.6 percent in 2024. The Dow has gained 126.38 points or 0.3 percent, while the Nasdaq is up 646.47 points or 4.3 percent. The Russell 2000, despite its recent decline, is down only 53.17 points or 2.6 percent for the year.
It is important to note that the information provided in this article is for general informational purposes only and should not be taken as investment advice. The Epoch Times does not offer any personal finance recommendations and holds no liability for the accuracy or timeliness of the information provided.
In conclusion, April was a challenging month for the US stock market, marked by significant losses and diminished expectations for interest rate cuts. However, despite these setbacks, the year-to-date performance of major stock indexes still shows some positive growth. Investors should continue to monitor market trends and seek advice from trusted financial professionals before making any investment decisions.
