Wall Street Slumps as Oil Prices Hit Record Monthly Fall

U.S. stocks dropped sharply, while oil prices saw the biggest monthly decrease in over three years amid worsening economic indicators and a trade war. Wall Street reeled, with major indexes posting monthly losses, as companies navigated tariff uncertainties and trade tensions globally. The dollar strengthened as economic turmoil continued.

U.S. stocks tumbled on Wednesday, and oil prices recorded their steepest monthly decline in over three years amidst troubling economic signals and mixed earnings reports. The dollar's rise accompanied a weaker outlook for crude oil.

Major U.S. stock indexes fell substantially, with the tech-heavy Nasdaq leading the decline. April concluded with all three main indexes charting their third consecutive monthly losses.

As trade wars cast a shadow over corporate earnings, U.S. GDP contraction added to uncertainty. Despite some upbeat economic data and consumer spending, Wall Street ended the day in negative, evaluating recession risks.

(With inputs from agencies.)