US Stock Market Crash LIVE: Benchmark indices on Wall Street have sold off after the US GDP contracted 0.3% in the first quarter, contrary to estimates of a 0.4% growth. President Donald Trump blamed the Biden administration for the GDP contraction, stating that this has got nothing to do with the tariffs. The Dow Jones is down 650 points, the S&P 500 is down over 110 points, while the Nasdaq too is down 450 points ahead of megacap tech earnings. Stay tuned for Live updates.
US Stock Market Crash LIVE: Benchmark indices on Wall Street have sold off after the US GDP contracted 0.3% in the first quarter, contrary to estimates of a 0.4% growth. President Donald Trump blamed the Biden administration for the GDP contraction, stating that this has got nothing to do with the tariffs. The Dow Jones is down 750 points, the S&P 500 is down over 120 points, while the Nasdaq too is down 480 points ahead of megacap tech earnings. Earlier, Chinese industrial activity fell to a two-year low. European markets also turned negative after the contraction in the US GDP, with Stellantis having joined the list of companies having cut their earnings forecast. The US Dollar, after briefly slipping below 99 on Tuesday, is back above 99.5. Brent remains below $63 a barrel on fears of more output hikes, while profit booking continues in Gold, with prices slipping below $3,300 an ounce. Watch this space for all the Live updates.
