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The Honolulu Advertiser
Posted on: Saturday, May 1, 2010

Big loss closes otherwise strong April


Associated Press

NEW YORK Stocks suffered a big loss on the last day of April as investors showed their disappointment with two economic reports and worries about a criminal investigation of Goldman Sachs. But the major indexes still had their third straight monthly gain.

Investors lost some of their optimism yesterday after the government's weaker-than-expected gross domestic product report and news of a drop in consumer sentiment. Reports that the government has started a criminal investigation of Goldman sent financial stocks tumbling.

The Dow Jones industrial average fell 158 points, snapping an eight-week winning streak, but rose 1.4 percent for April. The market has fluctuated this week on spurts of optimism and pessimism about the economy.