The Dow Jones Industrial Average slid 375.12 points, or 0.98%, to close at 38,085.80, weighed down by steep declines in Caterpillar and IBM. The S&P 500 dropped 0.46% to finish the session at 5,048.42, and the Nasdaq Composite lost 0.64% to 15,611.76.
U.S. gross domestic product expanded 1.6% in the first quarter, the Bureau of Economic Analysis said. Economists polled by Dow Jones forecast GDP growth would come in at 2.4%.
US personal consumption expenditures price index increased at a 3.4% pace, well above the previous quarter’s 1.8% advance.
ASX 200 SPI down 26 for a two day total of 86 points lower.
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The Dow Jones Industrial Average slid 375.12 points, or 0.98%, to close at 38,085.80, weighed down by steep declines in Caterpillar and IBM. The S&P 500 dropped 0.46% to finish the session at 5,048.42, and the Nasdaq Composite lost 0.64% to 15,611.76.
U.S. gross domestic product expanded 1.6% in the first quarter, the Bureau of Economic Analysis said. Economists polled by Dow Jones forecast GDP growth would come in at 2.4%.
US personal consumption expenditures price index increased at a 3.4% pace, well above the previous quarter’s 1.8% advance.
ASX 200 SPI down 26 for a two day total of 86 points lower.
Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.
Ready to invest in yourself? Join the Marcus Today community.