Investing.com-- The S&P 500 fell Tuesday, snapping a five-month winning streak as data pointing to wage pressure stoked inflation concerns. Stocks slipped Tuesday after fresh data raised concerns that inflation will remain sticky. The Dow fell 571 points, or 1.5%. The S&P 500 dropped 0.6% during those last 10 minutes of the day, while the Nasdaq Composite fell 0.9%. Those were the largest final drops for each index. U.S. stocks sank on Tuesday as wage growth data dealt another blow to the Fed in its fight against inflation right as the central bank. Dow Jones futures: The market rally stumbled ahead of the Fed meeting. Amazon and AI plays Super Micro and AMD reported earnings late. U.S. stocks closed out April with a whimper as the three major benchmark indexes suffered their worst monthly point and percentage decline. Stocks sold off sharply Tuesday as anxiety set in ahead of Wednesday's policy statement from the Federal Reserve. U.S. stocks on Tuesday ended lower on the last day of April, dragged down by some disappointing earnings reports and economic data. NEW YORK (AP) — More worries about inflation and interest rates staying high knocked U.S. stocks lower on Tuesday, as the market closed out.
The Dow Jones Industrial Average closed down 571 points, or 1.5%, as investors reacted to the latest data on wage growth. The S&P 500 and Nasdaq Composite also saw declines of 0.6% and 0.9%, respectively. This marks a significant drop for these major indexes, signaling growing concerns about inflation and its impact on the economy. The market rally stumbled ahead of the Federal Reserve meeting, with investors closely watching for any signs of how the central bank plans to address rising inflation.
The recent sell-off in stocks reflects mounting anxiety among investors, as inflationary pressures continue to weigh on the market. The Federal Reserve's upcoming policy statement is being closely watched for clues on how the central bank will respond to the current economic conditions. Companies like Amazon, Super Micro, and AMD reporting late earnings only added to the uncertainty, contributing to the overall negative sentiment in the market. The month of April ended on a sour note, with stocks suffering their worst monthly decline in both points and percentage terms.