The main stock exchanges on the other side of the Atlantic closed lower, as investors digested the North American GDP figures, which were lower than expected.
North American stock markets closed this Thursday in negative territory, in a session in which the US GDP disappointed the markets – as it grew 1.6% in the first quarter, on an annualized basis, when economists surveyed by Dow Jones pointed to 2.4%.
The Dow Jones industrial index closed down 0.98%, to 38,085.80 points, and the Standard & Poor’s 500 fell 0.46% to 5,048.42 points.
For its part, the technological Nasdaq Composite lost 0.64% to settle at 1,611.76 points.
Wall Street was, therefore, on the rocks, with investors reacting cautiously to the country’s lower-than-expected economic growth, in a context of persistent inflation.
This was the slowest pace of growth in the US in almost two years, while inflation accelerated in the same quarter – shaking expectations of a cut in interest rates by the Fed soon.
Throughout the day there was a sell-off movement mainly in the technology sector, triggered by the disappointing results (presented yesterday after the stock market closed) from Meta Platforms.
Investors eagerly awaited accounts from Alphabet, Microsoft and Intel – to be reported after Wall Street’s regular hours session.
