Stocks are down today and investors wondering why need look no further as we have the details behind Thursday’s dip!
The big reason why stocks are down today has to do with the revised real gross domestic product (GDP) during the first quarter of the year. This comes in at 1.3% growth, which is lower than the prior estimate of 1.6%.
The Bureau of Economic Analysis (BEA) said the following about this change:
“Compared to the fourth quarter, the deceleration in real GDP in the first quarter primarily reflected decelerations in consumer spending, exports, and state and local government spending and a downturn in federal government spending. These movements were partly offset by an acceleration in residential fixed investment. Imports accelerated.”
Let’s check out how the major stock indices are reacting to this revised GDP below!
Stocks Down Today: Major Indices Fall
- Starting us off is the S&P 500 with a 0.48% decrease as of Thursday morning.
- Next we have the Dow Jones Industrial Average with a 1.01% drop as of this writing.
- Closing us out is the Nasdaq Composite with a 0.62% fall this morning.
Investors who are interested in reading up on all of the other hot stock market stories today are going to want to stick around!
We are offering up all of the biggest stock market stories traders need to know about on Thursday! A few examples include what’s going on with shares of Faraday Future (NASDAQ:FFIE), a GLP-1 supply tracker and more. All of this news is ready to go at the links below!
More Stock Market News for Thursday
- FFIE Stock: Faraday Preps to Split Its Brand Between the U.S. and China
- New GLP-1 Supply Tracker: Where to Find Weight Loss Drugs Ozempic, Wegovy Near You
- Momentus (MNTS) Stock Blasts Off on New DARPA Deal
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
