It was another bloodbath on U.S. stock markets.
The tech-heavy NASDAQ Composite Index dipped by 3.52 percent today, closing at 11,340.02. On the week, it's off 7.05 percent.
Since the start of the year, the NASDAQ Composite Index has fallen a whopping 28.38 percent.
Tesla shares have fallen 5.04 percent over the past five days and 41.93 percent in 2022. That's not nearly as bad as Netflix stock, which plunged 9.48 percent over five days and is 69.38 percent lower so far this year.
Shares in another former high flyer on NASDAQ, Meta Platforms Inc. (formerly Facebook), dipped 9.51 percent on the week and are down 48.14 percent this year.
Meanwhile, the Dow Jones Industrial Average fell by 2.73 percent. The 880-point decline dropped this basket of 30 large-cap stocks to 31,392.79.
Investors in Canadian stocks fared much better today. The S&P/TSX Composite Index fell by 1.41 percent. It's down by 3.05 percent on the week and 4.53 percent in 2022.
The Dow is down 4.96 percent on the week and has fallen 14.19 percent this year.
One of its signature stocks, Apple, fell 6.8 percent this week and is down 24.66 percent this year. Microsoft shares declined 7.02 percent this week and are off 24.42 percent on the year.
Today's drop was attributed to U.S. inflation reaching a 40-year high of 8.6 percent in May. The market was expecting May inflation to clock in at 8.3 percent.