Stocks sank on Friday, ending what has been a miserable month for markets, especially for Big Tech.
The Dow Jones Industrial Average lost nearly 1,000 points, while the S&P 500 lost more than 3%, with both indexes posting hefty losses for April.
But it was a lot worse for the tech-heavy Nasdaq, which sank more than 4% on Friday and ended down more than 10% for April, its worst month since 2008.
The deep declines reflect a time of deep uncertainty at a moment when the economic landscape is changing rapidly.
Here are the top three things sinking Wall Street.
Big Tech is going from winner to loser
The pandemic was good for Big Tech earnings.
Buoyed by low interest rates and the sudden pivot to quarantines and remote work, companies from Netflix to Zoom had some banner months in terms of profits.
And what is good for Big Tech is generally good for markets given that information technology companies account for 28 percent of the S&P 500.
But things have changed — and swiftly.
The world is learning to live with COVID. Workers are returning to their offices. Demand for travel is booming. And restaurants are filling up again.
A California man accused of attempting to assassinate Supreme Court Justice Kavanaugh was formally charged Wednesday.
A federal grand jury returned an indictment charging 26-year-old Nicholas John Roske with attempting to murder a Justice of the United States.
According to court documents, Roske traveled from his home in Simi Valley, California to Maryland intending to kill Justice Kavanaugh, arriving at his residence in the early morning hours of Thursday, June 8, 2022.