The U.S. stock market broke a streak of five consecutive months of gains in April, reigniting concerns about the impact of rising inflationary pressures and the potential for a prolonged restrictive monetary policy by the Federal Reserve.
Despite positive signals from first-quarterearnings reports, all major U.S. indices ended the month in negative territory as macroeconomic fears hit risk sentiment.
The S&P 500, as tracked by the SPDR S&P 500 ETF Trust (NYSE:SPY), closed 4% lower, snapping a five-month winning streak and marking its worst performance since September 2023.
The tech-heavy Nasdaq 100, monitored through the Invesco QQQ Trust (NASDAQ:QQQ) witnessed a 4.4% decline for the month, similarly snapping a five-month positive streak and hitting the worst monthly return since September 2023.
Blue chip stocks in the Dow Jones, as tracked by the SPDR Dow Jones Industrial Average ETF (NYSE:DIA), fell 4.9% on…
