The New York Stock Exchange closed down today with the main indicator, the Dow Jones, losing 0.98%, after disappointing data on the growth of the US economy in the first quarter.

Wall Street Closes Lower on Weaker-Than-Expected GDP Growth

22:31 - 25/04/24 por Lusa

Economia Bolsa de Nova Iorque

At the close of the session, the Dow Jones was at 38,085 points, while the Standard & Poor's lost 0.46% to 5,048 points and the technology index, the Nasdaq, fell 0.64% to 15,611 points.

The Department of Commerce today released the numbers for the growth of the Gross Domestic Product (GDP) of the United States, which was 1.6%, well below the range of 2.2% to 2.4% predicted by analysts.

In addition, consumer prices rose 3.4%, almost double the previous quarter, indicators that lead the market to fear that the Federal Reserve (the central bank of the United States) will not advance in cutting interest rates.

The technology company Meta, owner of the social networks Facebook and Instagram, lost almost 10% today and dragged the Nasdaq into negative territory, despite having released better-than-expected results, with investors focusing on the fact that the company predicts high future investments in artificial intelligence.

Results from the technology companies Microsoft, Alphabet and Intel are still expected today, which usually have an immediate impact on Wall Street.

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Wall Street Closes Lower on Weaker-Than-Expected GDP Growth

The New York Stock Exchange closed down today with the main indicator, the Dow Jones, losing 0.98%, after disappointing data on the growth of the US economy in the first quarter.

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Wall Street Closes Lower on Weaker-Than-Expected GDP Growth

The New York Stock Exchange closed down today with the main indicator, the Dow Jones, losing 0.98%, after disappointing data on the growth of the US economy in the first quarter.

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