US stocks endured more losses on Thursday as lingering concerns about higher-for-longer interest rates and a Salesforce sell-off dampened investors' spirits. The Dow Jones Industrial Average sank nearly 0.9%, or more than 350 points, after shedding over 400 to lead Wednesday's stock market slide. The S&P 500 fell 0.6%, while the tech-heavy Nasdaq Composite dropped about 1%.
The software maker's shares slid nearly 20% after it said sales growth would stall to the slowest in its history, its most significant decline since 2004. Meanwhile, new government data showed that the US economy grew at a slower pace than initially thought during the first quarter. The Bureau of Economic Analysis's second estimate of first quarter US gross domestic product showed the economy grew at an annualized pace of 1.3% during the period, down from a first reading of 1.
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 leads stock market slide as rising Treasury yields rattle nervesA spike in Treasury yields has unsettled investors already weighing whether recent data will shift the needle on interest rates.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Stock futures edge higher after biggest wipeout for Dow in a yearRenewed concerns over the path of interest rates had prompted the Dow's worst day since March 2023.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Dow extends slide as lackluster earnings, rate fears prey on nervesLngering concerns about higher-for-longer interest rates and a Salesforce sell-off put a dampener on investors' spirits.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Dow futures slide again as rates fears prey on nervesLngering concerns about higher-for-longer interest rates and a Salesforce sell-off put a dampener on investors' spirits.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Stocks edge higher after biggest wipeout for Dow in a yearRenewed concerns over the path of interest rates had prompted the Dow's worst day since March 2023.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Dow slides 600 points as worries about rates overshadow Nvidia's blowout profitNEW YORK (AP) — Most U.S. stocks slumped after strong economic reports raised the possibility of interest rates staying painfully high.
Source: SooToday - 🏆 8. / 85 Read more »