China News Agency, New York, April 29 (Reporter Wang Fan) The U.S. stock market fell across the board on the 29th, with the Nasdaq Composite Index plummeting 4.17%, with a monthly cumulative decline of more than 13%, the largest monthly decline since October 2008. .

　　On the same day, the Dow Jones Industrial Average fell 939.18 points, or 2.77%, to close at 32977.21; the S&P 500 fell 155.57 points, or 3.63%, to close at 4131.93; the Nasdaq Composite fell 536.89 points, or 4.17%, to close at 12334.64.

Big tech stocks were the biggest drag.

Shares of e-commerce giant Amazon tumbled 14.05% due to poor quarterly results, the biggest one-day drop since July 2006.

　　The Wall Street Journal said that technology stocks dominated the U.S. stock market this week, and industry giants represented by Amazon, Apple, Netflix, Google parent company "Alphabet", Facebook parent company "Yuan", etc. have disclosed their latest quarterly earnings reports , stimulated market pessimism and triggered a sell-off.

The Nasdaq, which is dominated by technology stocks, has continued to drop, with a monthly decline of 13.26% alone, which has so far erased all of the index's gains since 2021.

　　Market analysts said that more investors are worried that the U.S. economy will fall into recession due to the combination of factors such as the persistently high inflation rate, the Fed's expectation of rapid interest rate hikes, and the situation in Ukraine.

On the 28th, data released by the U.S. Department of Commerce showed that in the first quarter of this year, the U.S. real gross domestic product (GDP) fell by an annualized rate of 1.4%.

Data on the 29th showed that the U.S. personal consumption expenditures (PCE) price index rose 6.6% year-on-year in March, the largest year-on-year increase since 1982.

　　In addition to technology stocks, stocks in several sectors including financials, banking, construction and engineering, media and entertainment also fell.

The US financial media CNBC said that April was also quite “brutal” for the Dow and the S&P 500. The Dow fell 4.91% monthly, and the S&P 500 fell 8.8%, both hitting record highs since March 2020. Biggest monthly drop.

　　On the 29th, Michael Hartnett and other Bank of America strategists said that data showed that some US stock investors have begun to flee.

Currently, the S&P 500 is above 4,100, and 4,000 is a "tipping point" below which investors could flee in large numbers.

The strategist team also said that the U.S. stock market may rebound in the short term, but the rebound will be an opportunity for investors to sell.

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