US Q1 GDP Report Shows a 0.3% Decline; Three Major Indices Open Lower
Amid the shadow of a global trade war, the US Department of Commerce has reported a 0.3% decline in GDP for the first quarter. Additionally, the ADP employment report shows that private sector job growth in April, after seasonal adjustments, only increased by 62,000, significantly lower than the expected 114,000 and less than the revised March number of 147,000, marking the smallest increase since July 2024, heightening concerns over the slowdown in US economic growth.
Today (30th), US stock markets were also adversely affected, with all three major indices opening lower. The Dow Jones dropped over 740 points in the first half hour of trading, settling at 39,784 points, a decline of 1.83%; the S&P 500 fell by 2.23% to 5,436 points; and the Nasdaq Composite decreased by 2.77% to 16,977 points.
European stock markets also saw a simultaneous decline among the three major indices, with Germany performing the worst.
