Stock market today: Wall Street falls on double dose of disappointing economic data, as Meta sinks

Worries about a potentially toxic cocktail combining stubbornly high inflation with a flagging economy dragged U.S. stocks lower on Thursday. A sharp drop for Facebook’s parent company, one of Wall Street’s most influential stocks, also hurt the market. The Standard & Poor's 500 fell 0.5% and sliced some of the gain off what had been a big winning week. It looked to be heading for a much worse loss in the morning, when it tumbled as much as 1.6%.

But the lower-than-expected growth and higher-than-expected inflation are “a bit of a slap in the face to those hoping for a ‘no landing’ scenario,” said Brian Jacobsen, chief economist at Annex Wealth Management. “Things can change a lot from one quarter to the next, so it’s too early to say the Fed has failed, but this doesn’t help their cause.” Underneath the surface, the economic report may not have been as bad as initially thought.

مصر أحدث الأخبار, مصر عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Stock market today: Tesla cruises higher as most of Wall Street drifts in mixed tradingU.S. stocks drifted to a mixed finish Wednesday as Wall Street’s momentum eased following some sharp swerves.
مصدر: latimes - 🏆 11. / 82 اقرأ أكثر »

Stock market today: Wall Street rallies again to erase more of April’s lossesU.S. stocks rallied for a second straight day Tuesday to blunt the blow of what’s been a rough April. The S&P 500 made back ground after a losing streak.
مصدر: latimes - 🏆 11. / 82 اقرأ أكثر »