{"id":7252,"date":"2022-04-30T11:57:32","date_gmt":"2022-04-30T11:57:32","guid":{"rendered":"https:\/\/www.africa-press.net\/angola\/all-news\/amazon-sell-off-ends-dismal-month-for-us-shares"},"modified":"2022-04-30T16:08:07","modified_gmt":"2022-04-30T16:08:07","slug":"amazon-sell-off-ends-dismal-month-for-us-shares","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/angola\/all-news\/amazon-sell-off-ends-dismal-month-for-us-shares","title":{"rendered":"Amazon sell-off ends dismal month for US shares"},"content":{"rendered":"

Africa-Press – Angola. <\/strong><\/span>US markets ended April in a deep funk, as investors turned their backs on once-favoured technology companies amid concerns about the economy.<\/b><\/p>\n

A sell-off in Amazon shares, after the firm reported a fall in online sales, helped drive the Nasdaq index down more than 4% on Friday.<\/p>\n

April was the worst month for the tech-heavy index since the 2008 financial crisis, with a 13% fall.<\/p>\n

But the market downturn is not limited to tech stocks.<\/p>\n

The wider S&P 500 logged it largest one-day decline since June 2020. It is down almost 14% since the start of the year.<\/p>\n

The Dow Jones Industrial Average fell 5% in April and has dropped about 9% since January.<\/p>\n

Markets – often considered a predictor of future economic health – have been jittery as a economic threats have mounted.<\/p>\n

Inflation is raging at a multi-decade high in the US and elsewhere, driven by higher energy prices and the war in Ukraine.<\/p>\n

Key supply chains have been affected both by the war, and by the on-going impact of the Covid pandemic, especially in China where lockdowns are still being used to limit the spread of the virus.<\/p>\n

Apple has already warned that it expects a big hit to its business due to disruption in China.<\/p>\n

And Amazon, which profited from the pandemic boom in demand for home deliveries, has found that effect is now beginning to fade.<\/p>\n

Amazon reports loss as online sales falter<\/p>\n

US economy contracts as Ukraine war hits trade<\/p>\n

On Friday Amazon shares dropped 14%, after it reported sliding online sales and its first quarterly loss since 2015. Shares in smaller online shopping site Etsy fell more than 8%.<\/p>\n

“Market participants are nervous to begin with, so there is a quick trigger when it comes to these names when there’s any uncertainty,” said Keith Buchanan, senior portfolio manager at Globalt Investments in Atlanta.<\/p>\n

“When assumptions about these companies’ growth fail to materialize, then there’s definitely a ‘shoot first and ask questions later’ mentality.”<\/p>\n

While consumer spending – the main driver of the US economy – has held up so far, there are growing worries that rising prices will make shoppers more careful, and could prompt a slowdown.<\/p>\n

Earlier this week, the US reported its economy contracted by 0.4% in the first three months of the year. The European Union said Friday it had seen just 0.2% growth in the first quarter.<\/p>\n

For More News And Analysis About Angola<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Angola. US markets ended April in a deep funk, as investors turned their backs on once-favoured technology companies amid concerns about the economy. A sell-off in Amazon shares, after the firm reported a fall in online sales, helped drive the Nasdaq index down more than 4% on Friday. April was the worst month […]<\/p>\n","protected":false},"author":84,"featured_media":7251,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[233,337,329],"class_list":["post-7252","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-angola","tag-angola"],"yoast_head":"\nAmazon sell-off ends dismal month for US shares - Angola<\/title>\n<meta name=\"description\" content=\"US markets ended April in a deep funk, as investors turned their backs on once-favoured technology companies amid con ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/angola\/all-news\/amazon-sell-off-ends-dismal-month-for-us-shares\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Amazon sell-off ends dismal month for US shares\" \/>\n<meta property=\"og:description\" content=\"US markets ended April in a deep funk, as investors turned their backs on once-favoured technology companies amid con ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/angola\/all-news\/amazon-sell-off-ends-dismal-month-for-us-shares\" \/>\n<meta property=\"og:site_name\" content=\"Angola\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-30T11:57:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-30T16:08:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/angola\/sites\/65\/2022\/04\/img-626d5ecf60a6f.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"976\" \/>\n\t<meta property=\"og:image:height\" content=\"549\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/amazon-sell-off-ends-dismal-month-for-us-shares#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/amazon-sell-off-ends-dismal-month-for-us-shares\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/angola\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Amazon sell-off ends dismal month for US shares\",\"datePublished\":\"2022-04-30T11:57:32+00:00\",\"dateModified\":\"2022-04-30T16:08:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/amazon-sell-off-ends-dismal-month-for-us-shares\"},\"wordCount\":409,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/amazon-sell-off-ends-dismal-month-for-us-shares#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/angola\/sites\/65\/2022\/04\/img-626d5ecf60a6f.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Angola\",\"Angola\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/angola\/all-news\/amazon-sell-off-ends-dismal-month-for-us-shares#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/amazon-sell-off-ends-dismal-month-for-us-shares\",\"url\":\"https:\/\/www.africa-press.net\/angola\/all-news\/amazon-sell-off-ends-dismal-month-for-us-shares\",\"name\":\"Amazon sell-off ends dismal month for US shares - 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