US stocks hit by GDP data, Meta results

NEW YORK, United States — Wall Street stocks retreated Thursday following disappointing US economic data, as Facebook parent Meta and other large companies tumbled after earnings. The US economy grew 1.6 percent in the first quarter, data showed, much slower than expected as consumer spending and exports decelerated. Analysts also pointed to inflation data embedded in the GDP report that will likely keep interest rates high. READ: US growth slowed sharply in first quarter to 1.6% pace The Dow Jones Industrial Average finished at 38,085.73, down 1.0 percent but about 330 points above its session low. The broad-based S&P 500 […]…

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