(MENAFN) On Friday, the Dow Jones industrial average dropped to over 900 points to register its worst daily drop since October, two years ago.
The blue-chip index plummeted 981 points, or 2.82 percent, to end at 33,811. The S&P 500 tumbled 121 points, or 2.77 percent, to 4,271. Tech-heavy Nasdaq fell 335 points, or 2.55 percent, to close the day at 12,839.
The drop in indices came amidst American firms’ unsatisfactory fiscal results for the first three months, and the Federal Reserve officials representing this week that the central bank is going to make a 50 basis points of rate surge in its upcoming meeting on May 4.
MENAFN24042022000045013568ID1104082960
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.