"Stocks Plunge on Inflation Woes and Bank Earnings Disappointment"
The Dow Jones Industrial Average fell 475.84 points, and the S&P 500 tumbled 1.46% as inflation and geopolitical concerns weighed on investor sentiment. Major bank shares also declined, with JPMorgan Chase dropping over 6% after reporting its first-quarter results and warning about persistent inflationary pressures. Oil prices rose amid reports of potential conflict in the Middle East, adding to inflation concerns. Consumer sentiment also reflected worries about persistent inflationary pressures, contributing to a flight to safety trade and cautious investor sentiment heading into the weekend.