Other megacap stocks such as Apple Inc AAPL.O, Microsoft Corp MSFT.O, Amazon.com Inc AMZN.O and Tesla Inc TSLA.O rose between 0.9% and 2.2%. "It's a result of inflation, concerns about higher interest rates and the fact that we are sort of slow to rebound from the COVID situation," said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut. The Ukraine war, China's COVID lockdowns and surging inflation have weighed on the outlook for global economy, sparking volatility across markets in April.