U.S. stocks fell sharply the last trading day of April amid intensifying concerns over rising interest rates, persistently high inflation, mixed earnings, and global unrest. On Friday, April 29, the Dow Industrials tumbled 939 points, the S&P 500 retreated 3.6% and the tech-heavy Nasdaq Composite lost 4.2%. For the month, the S&P 500 nosedived almost 8.8%, its worst month since March 2020. Moreover, the benchmark S&P 500 index is down 12.9% year-to-date (YTD), its worst four-month start to a year since World War II.
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The Monthly Recap is published by Cetera Investment Management LLC, an SEC registered adviser owned by Cetera Financial Group. Cetera Investment Management provides market perspectives, portfolio guidance, model management, and other investment advice to its affiliated broker-dealers, dually registered broker-dealers and registered investment advisers.
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