NEW YORK (Reuters) – The New York Stock Exchange closed lower on Thursday, after indicators suggesting that inflation remains high and disappointing results from Meta Platforms.
The Dow Jones index lost 375.12 points, or 0.98%, to 38,085.80, the S&P 500 23.21 points, or 0.46%, to 5,048.42 and the Nasdaq Composite 100.99 points, or 0.64%, to 15,611.76 points.
First-quarter U.S. GDP figures, released by the Commerce Department on Thursday, showed the underlying PCE inflation gauge rose to 3.7%, compared to 3.4% expected by analysts.
Yields rebounded in the wake of the indicator.
In terms of values, Meta Platforms fell almost 11% after announcing on Wednesday both higher-than-expected expenses and a lower-than-expected second-quarter revenue forecast.
In its wake, Alphabet and Microsoft also fell but their prices recovered in after-hours trading after the publication of better-than-expected results.
Intel, on the other hand, disappointed with its quarterly results below estimates and its share price lost 8%.
(Corentin Chappron, Jean-Stéphane Brosse for the )
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