Stocks plummet due to inflation and geopolitical concerns

CNBC April 2, 2024, 07:00 PM UTC

Summary: Stocks experienced a significant sell-off on Tuesday, with the S&P 500 dropping nearly 1% and the Dow Jones Industrial Average shedding over 400 points. Investor James Abate attributes this to undermined drivers like rising inflation and geopolitical tensions. The Nasdaq Composite also lost 1%. Abate warns of a potential severe downturn ahead, as indicated by the Cboe Volatility Index rising above 15 for the first time since mid-March.

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