Fear of a recession hovers over Wall Street

On Friday, US stocks collapsed, like Nasdaq scored its worst month of October 2008, and S&P – its worst month since March 2020, when the Covid pandemic began, commented CNN.

The tech Nasdaq fell 4.2 percent on Friday, followed by Amazon, which fell nearly 15 percent after failing to live up to expectations.

The S&P 500 fell about 3.6% on Friday, a Dow fell about 940 points, or 2.8%.

The most closely monitored inflation indicator, published on Friday – the main price index of personal consumption expenditure – rose 5.2% from a year earlier, which portends more problems for the economy.

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