Published on 1 May 2024 on Zacks via Yahoo Finance
Stock Market News for May 1, 2024
U.S. stock markets tumbled Tuesday, closing sharply lower. Market participants remained highly concerned regarding unfavorable economic data. Moreover, investors were weighing the outcome of the Fed’s FOMC meeting. All three major stock indexes ended in negative territory. For the month as a whole, these indexes also finished in negative zone.
How Did The Benchmarks Perform?
The Dow Jones Industrial Average (DJI) plunged 1.5% or 570.17 to close at 37,815.92. Notably, 28 components of the 30-stock index ended in negative territory while 2 ended in positive zone. The tech-heavy Nasdaq Composite finished at 15,657.82, plummeting 2.1% or 325.26 points due to weak performance by U.S. corporate behemoths.