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.
Earlier this year, an 18-year-old high school senior from New York City had planned to enroll at Columbia University’s sister school Barnard College in Manhattan as an early decision student. But after her parents saw heightened tensions over the Israel-Gaza conflict surface across some US campuses, including at Barnard and Columbia, they went back to her list.