From CNBC: 2024-04-25 16:17:00

Stocks plunged on Thursday due to disappointing U.S. economic data showing slowed growth and persistent inflation. Dow Jones dropped nearly 1%, S&P 500 slipped 0.46%, and Nasdaq lost 0.64%. U.S. GDP expanded 1.6% in Q1, missing forecasts. Personal consumption expenditures increased 3.4%, raising concerns over inflation and Federal Reserve rate cuts. Traders adjusted expectations for rate cuts, and tech stocks suffered following Meta’s weak revenue guidance. Stocks endured largest pullback since last year. Individual investor bullishness dropped to lowest since November. Federal Reserve faces inflation concerns. Top strategists offer different perspectives on stagflation fears, saying economy remains steady and beneficial to equities. Technology investor stands by Meta, waiting for more earnings reports before investing. Meta’s AI spending delay could benefit companies like Super Micro, Arista Networks, and Broadcom. Top stocks making headlines in midday trading included Victoria’s Secret and Monster Beverage.

Read more: Dow drops on inflation and growth concerns, Meta slides