US stocks open lower as economy slows in Q1

This article was originally published 3 years ago, which may make its actuality or accuracy possibly no longer valid. rgvfox.com is not responsible for any misunderstanding or errors which may occur in the information presented.

US stocks open lower as economy slows in Q1

 (AP) — U.S. stocks are edging lower after the U.S. reported its economy slowed more drastically in the first quarter than economists expected.

The Dow Jones industrial average was down one point to 16,534 shortly after the market opened Wednesday. The Standard & Poor’s 500 index fell three points, or 0.1 percent, to 1,874. The Nasdaq was off 20 points, or 0.5 percent, to 4,082.

The economy slowed in the first three months of the year as winter storms chilled business activity. The Commerce Department said growth downshifted to a barely discernible 0.1 percent annual rate in the January-March quarter, the weakest since the end of 2012.

Twitter fell $5, or nearly 12 percent, to $37.63 in early trading. The social media company’s growth disappointed investors when it reported results late Tuesday.

About The Author

The Valley's Fox News

KFXV-LD channel 67 is a Fox-affiliated station in McAllen, Texas, owned by Entravision Communications. KFXV can be seen on Time Warner Cable channel 6 and digital high definition channel 870. It can also be seen on Dish Network and DirecTV channel 2.

Leave a Reply