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Dow, S&P 500, NASDAQ and bitcoin tumble ahead of April CPI report this week – USA Today

NEW YORK — Stocks deepened their losses on Wall Street Monday, sending the S&P 500 to its lowest close in more than a year.

Most of this year’s damage has been the result of the Federal Reserve’s aggressive flip away from doing everything it can to prop up financial markets and the economy.

In the meantime, higher rates discourage investors from paying very high prices for investments, because investors can get more than before from owning super-safe Treasury bonds instead.

The number of companies citing “weak demand” in their conference calls following earnings reports jumped to the highest level since the second quarter of 2020, strategist Savita Subramanian wrote in a BofA Global Research report.

Many tech-oriented companies saw profits boom through the pandemic as people looked for new ways to work and entertain themselves while locked down at home.

More than 60 people were feared dead after a Russian bomb flattened a school being used as a shelter, Ukrainian officials said.

crude fell 6.1% to settle at $103.09 per barrel, though it’s still up about 40% this year.

With the chances of a recession increasing, USA TODAY wants to know if you’re worried and making preparations.

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