It was the worst April performance for the Dow and S&P 500 since 1970, and the biggest April drop for the Nasdaq since 2000.
An ugly end to a cruel April on Friday saw the S&P 500 post its second correction — a drop of 10% from a recent peak — so far this year.
A correction is commonly defined as a pullback of at least 10% — but not more than 20% — from a recent peak. A correction is exited after rise of at least 10% from a correction low. The S&P 500 previously suffered a correction on Feb. 22, when it closed at 4,304.76, down 10.25% from its early January record close. Stocks extended a slide in early March as investors reacted to Russia’s Feb. 24 invasion of Ukraine, which sent oil prices soaring to nearly 14-year highs and stoked geopolitical anxiety.Stocks slumped anew in volatile April trade, marked by large daily and intraday swings. The Dow Jones Industrial Average DJIA, -2.77% plunged 4.
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