NEW YORK (Pakistan Point News / Sputnik - 30th April, 2022) Wall Street's Big Tech sector lost 13% in April, leading US stocks markets to their worst month since the financial crisis of 2008 amid fears the Federal Reserve bent on defeating inflation with aggressive interest rate hikes could push the economy into a recession.
Wall Street's three major stock indexes - the S&P 500 for the top 500 stocks, the broad-based Dow Jones Industrial Average and the tech-heavy Nasdaq Composite - closed Friday's trade down by an average of 3.5%. For all of April, the S&P 500 slumped almost 9%, becoming the second biggest loser after Nasdaq, while Dow lost 5%.
