Nasdaq wraps its worst month in nearly 14 years as recession fears grow stronger

New York (CNN Business) US stocks plunged on Friday, with the Nasdaq marking its worst month since October 2008 and the S&P notching its worst month since March 2020 at the onset of the Covid pandemic.

Amazon AMZN The tech-heavy Nasdaq fell 4.2% on Friday, dragged down by, which dropped nearly 15% after it missed earnings expectations.

The S&P 500 shed about 3.6% on Friday, while the Dow dropped about 940 points, or 2.8%.

The most closely watched inflation reading released Friday — the core personal consumption expenditures price index — rose 5.2% from a year ago, spelling more trouble for the economy.

The Nasdaq fell around 12% this month, the S&P 500 lost more than 7% and the Dow was off by nearly 4%.