On Thursday, financial markets faced a challenging situation characterized by high inflation rates and slowing economic growth. Concerns about this situation caused the S&P 500 to fall 0.5%, the Dow Jones Industrial Average to lose 1%, and the Nasdaq composite to drop 0.6%. One of the key factors contributing to this market decline was the sharp drop in shares of Meta Platforms, a prominent stock on Wall Street.
Despite an initial dip of 1.6%, the S&P 500 managed to recover some of its losses later in the day. The Dow Jones Industrial Average experienced a significant decline of 1%, while the Nasdaq composite gave back 0.6%. Treasury yields rose following a report indicating that inflation levels were higher than expected in the first quarter of the year. Additionally, the economy’s growth slowed more than forecasted, further adding to investor concerns.
