Tech stocks sink again, Nasdaq has worst month since 2008

 

April 29, 2022



The Dow Jones Industrial Average slumped more than 900 points Friday as another sharp sell-off led by technology stocks added to Wall Street's losses in April, leaving the S&P 500 with its biggest monthly skid since the start of the pandemic.

A sharp drop in Amazon weighed on the market after the internet retail giant posted its first loss since 2015. The decline knocked more than $200 billion off Amazon's market value.

The benchmark S&P 500 fell 3.6% and finished April with an 8.8% loss, its worst monthly slide since March 2020. The Dow slumped 2.8%.

The Nasdaq composite, heavily weighted...



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