What a start to the second quarter, huh? You’ve likely noticed your portfolio take a hit, causing you to panic and hit the sell button. But you’re not alone.
According to data compiled by Bloomberg, U.S. stocks suffered the worst April start since 1929.
On Monday, the Dow Jones shed nearly 500 points and the S&P 500 index slipped 2.2 percent. The latter is the worst decline in 89 years, the start of a devastating economic period in the nation’s history.
The loss stemmed from China’s retaliatory tariffs on 128 U.S. products as well as Amazon shares sinking (both of which are President Donald Trump’s fault).
The stock market appears to be recovering on Tuesday. At the time of this writing, the Dow is up 85 points, the S&P 500 is up four points, and the Nasdaq is up three points. But we’re just getting started.
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