The New York Stock Exchange was clearly in the red after hesitating at the opening on Thursday, investors digesting the announcement of a new quarter in decline for US GDP between April and June.
The day after a nice rise in the indices in the wake of a rate hike by the Fed in line with forecasts, the Dow Jones dropped 0.48%, the Nasdaq fell by 0.83% and the S&P 500 by 0.55 % at 4:00 p.m. GMT.
On Wednesday the Dow Jones had climbed 1.37% to 32,197.59 points, the Nasdaq, with strong technological coloring, had jumped 4.06% to 12,032.42 points, posting its best session since April 2020. The S&P 500, the most representative of the American market, fell 2.62% to 4,023.61 points.
“Macroeconomic data is playing a dominant role this morning and it’s not good,” summarized Patrick O’Hare of Briefing.com.
The gross domestic product (GDP) of the United States contracted by 0.9% year on year in the second quarter, a figure worse than expected (+0.3%) which adds to the decline of 1.6% already registered in the first quarter.