The Dow fell 571 points, or 1.5%. The S&P 500 declined 1.6% and the Nasdaq Composite lost 2%. All three major indexes closed out April lower, snapping a five-month streak of gains. The blue-chip Dow notched its worst month since September 2022.

Bitcoin is on pace for its worst month in nearly a year and a half — despite the cryptocurrency’s so-called halving event on April 19, which some crypto bulls had hoped would provide a fresh catalyst for a rally.

Stocks plunged as markets adjusted to another hot economic data point right as the Fed gets ready to deliver its next policy decision.