Wall Street registered a significant decline on Friday, erasing yesterday's gains after a week full of corporate earnings results and pessimistic economic data. The latest reports showed a worse-than-expected improvement in consumer confidence in the United States over this month, while earlier data showed the American economy decreased 1.4% in the first trimester of 2022.
The Dow Jones plunged 2.77% or 939 points at the closing bell, with Apple, Intel and Microsoft all making major losses after this week's Q1 results. The Nasdaq 100 tumbled 4.47% or 601 points to land at the lowest level since March last year, as Amazon led the flop table by dropping as much as 14%. The S&P 500 lost 3.63% or 155 points. The euro gained 0.47% against the dollar to sell for 1.05478.