Dow sinks 650 points after GDP report shows a slowing economy amid stubborn inflation
CNN
US stocks tumbled Thursday morning after the latest GDP report showed that US economic growth slowed to 1.6% in the first quarter of the year, a much weaker pace than expected.
US stocks sank Thursday morning after the latest GDP report showed that US economic growth slowed to 1.6% in the first quarter of the year, a much weaker pace than expected. The Dow fell by 650 points, or 1.7%; the S&P 500 was down 1.4% and the Nasdaq Composite slid by 1.9%, as investors projected a longer wait for the first rate cut from the Federal Reserve. This is a developing story and will be updated.
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