US stocks dive: Nasdaq drops nearly 4%, Dow Jones loses 891 points

Source: Big News Network [UAE]

“U.S. stocks dived on Tuesday amidst concern about rising inflation and the prospect of aggressive interest rate hikes. Whilst negative for stocks, the mood was positive for the U.S. dollar which continued its extended rally. ‘There’s a lot of anxiety ahead of the earnings which are coming up Tuesday, Wednesday, and Thursday just because if they don’t hold up, then there’s nothing left to hold up the market,’ said Thomas Hayes, chairman of Great Hill Capital LLC in New York. The Dow Jones industrials plunged 809.28 points or 2.38 percent to close Tuesday at 33,240.18. The Nasdaq Composite shed 514.11 points or 3.95 percent to 12,490.20. The Standard and Poor’s 500 tumbled 120.92 points or 2.81 percent to 4,175.20.” (04/26/22)