Stock Market Today: April Ends on Sour Note Ahead of Fed Decision

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McDonald's and Eli Lilly reported earnings, while pot stocks soared on news that the White House may reclassify marijuana as a less dangerous drug.

U.S. stocks tumbled to close out a dispiriting April for investors, ending the worst month of the year so far for equities.The Dow Jones Industrial Average fell 570 points, while the S&P 500 was down 1.6%, snapping a five-month winning streak. The Nasdaq also ended the day lower by 2%.A pair of concerning economic reports led markets into the red, including a reading of consumer confidence hitting its lowest level in nearly two years. Meanwhile, the cost of labor for U.S.

The pharma giant raised its guidance for the year while reassuring investors it has enough of the drug to meet sky-high demand. Shares ended the day higher by 6 percent, and are up more than 90 percent over the last year.Another big mover was Stellantis, the multinational auto conglomerate that owns Jeep, Chrysler and Dodge.

 

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