Major U.S. stock indexes fell Thursday, weighed down by a one-two punch of economic data that showed growth slowing and inflation persisting.The Dow Jones Industrial Average fell more than 370 points, or about 1 percent. The S&P 500 and tech-heavy Nasdaq both closed lower by about half-a-percent.Markets sold off all day after the morning's first-quarter GDP report came in well short of expectations, showing the U.S. economy grew by a paltry 1.6 percent.
Adding to the downward pressure, shares of Meta fell 10 percent, sparking a sell-off in other big tech stocks after the Facebook parent reported quarterly earnings Wednesday that spooked investors. Despite ad revenue growing by 27 percent, the company issued soft guidance for the current quarter as it plans to 'invest significantly more' in AI, CEO Mark Zuckerberg said on the earnings call.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock Market today: Dow slides on geopolitical tensions, spike in Treasury yieldsStock Market today: Dow slides on geopolitical tensions, spike in Treasury yields
Source: Investingcom - 🏆 450. / 53 Read more »
Stock Market Today: Dow slumps on inflation jitters, disappointing bank earningsStock Market Today: Dow slumps on inflation jitters, disappointing bank earnings
Source: Investingcom - 🏆 450. / 53 Read more »
Stock Market Today: Dow extend losing streak as rising geopolitical tensions biteStock Market Today: Dow extend losing streak as rising geopolitical tensions bite
Source: Investingcom - 🏆 450. / 53 Read more »
Stock market today: Japan’s Nikkei leads Asian market retreat as Middle East tensions flareAsian stocks have tumbled, with Japan’s Nikkei slumping 2.4% on heavy selling of semiconductor-related shares and other market heavyweights.
Source: ksatnews - 🏆 442. / 53 Read more »
Stock market today: Japan’s Nikkei leads Asian market retreat as Middle East tensions flareAsian stocks have tumbled, with Japan’s Nikkei slumping 2.4% on heavy selling of semiconductor-related shares and other market heavyweights.
Source: wjxt4 - 🏆 246. / 63 Read more »
Stock market today: Japan’s Nikkei leads Asian market retreat as Middle East tensions flareAsian stocks have tumbled, with Japan’s Nikkei slumping 2.4% on heavy selling of semiconductor-related shares and other market heavyweights. Tensions in the Middle East were weighing on sentiment across the region.
Source: AP - 🏆 728. / 51 Read more »