Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, April 30, 2021. Asian shares were mostly lower Friday amid uncertainty about the prospects for a gradual global economic recovery from the coronavirus pandemic.
A currency trader stretches at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, April 30, 2021. Asian shares were mostly lower Friday amid uncertainty about the prospects for a gradual global economic recovery from the coronavirus pandemic.
A currency trader passes by screens showing foreign exchange rates at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, April 30, 2021. Asian shares were mostly lower Friday amid uncertainty about the prospects for a gradual global economic recovery from the coronavirus pandemic.
A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, April 30, 2021. Asian shares were mostly lower Friday amid uncertainty about the prospects for a gradual global economic recovery from the coronavirus pandemic.
FILE – In this March 23, 2021 file photo, pedestrians walk past the New York Stock Exchange in New York’s Financial District. Stocks are pulling back in the early going on Wall Street, easing the S&P 500 below the record high it set a day earlier. The index is still on track to close out its third solid monthly gain in a row. It was down 0.5% in the first few minutes of trading Friday, April 30, and technology and communications stocks were doing the most damage.
Stocks pulled back on Wall Street, easing the S&P 500 below the record high it set a day earlier, but still closed out their best month this year. The S&P 500 gave up 0.7% Friday as investors backed away from technology and communications companies. The market has been climbing this month as investors remain optimistic that the pandemic is slowly and steadily coming to a close. The S&P 500 rose 5.2% in April, its best monthly gain since November 2020, when President Joe Biden was elected. The yield on the 10-year Treasury note slipped to 1.63%
THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.
Stocks fell broadly in afternoon trading Friday as investors backed away from technology and communications companies.
Despite the decline, the market is on pace for its best month so far this year, as investors remain optimistic that the pandemic is slowly and steadily coming to a close.
The S&P 500 was down 0.7% as of 2:56 p.m. Eastern. The Dow Jones Industrial Average fell 194 points, or 0.6%, to 33,867 and the Nasdaq was down 0.8%. The S&P 500 is on pace for a modest weekly gain.
The S&P 500 is up 5.3% in April, on track for its best month since November 2020, when President Joe Biden was elected. Under Biden, the Dow notched its best first 100 days under a new president since Franklin Delano Roosevelt took office in 1933, according to LPL Financial, with a 9.9% return as of April 29. The Dow delivered a 6.1% return during former President Donald Trump’s first 100 days in office.
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