US stocks headed for more losses on Thursday as lingering concerns about higher-for-longer interest rates and a Salesforce sell-off put a damper on investors' spirits. The Dow Jones Industrial Average sank 0.7%, or nearly 300 points, after shedding over 400 to lead Wednesday's stock market slide. The S&P 500 fell 0.2%, while the tech-heavy Nasdaq Composite dropped about 0.3%.
Salesforce's results sparked other worries about likely losers in the AI boom. The software maker's shares slid 15% after it said sales growth will stall to the slowest in its history. Meanwhile, 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.
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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.
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