On Thursday morning, US stocks experienced a significant drop following the release of the most recent GDP report. The report revealed that the US economy only grew by 1.6% in the first quarter of the year, much lower than anticipated.
The Dow plummeted by 650 points, or 1.7%, while the S&P 500 and Nasdaq Composite also declined by 1.4% and 1.9% respectively. Investors were disappointed by the slower economic growth and are now expecting a longer wait for the Federal Reserve to implement the first rate cut.
This is a developing story and updates will be provided as more information becomes available.
