The US Department of Commerce released data today (30th) showing that the Gross Domestic Product (GDP) for the first quarter of 2025 shrank at an annual rate of 0.3%. Shortly after the opening of the US stock market, all four major indices fell sharply, with TSMC ADR declining by 0.40% and Tesla plummeting by 6.03%.

According to the latest data from the Bureau of Economic Analysis (BEA), the annualized quarter-over-quarter GDP growth rate for the first quarter of 2025 was -0.3%, which not only fell short of the market forecast of a 0.2% growth but also marked a significant drop from last year’s fourth quarter growth of 2.4%. Today, upon market opening, the four major indices experienced a drastic decline. As of 10 PM, the Dow Jones Industrial Average fell by 754.26 points, or 1.86%, to 39773.36; the S&P 500 index dropped 123.79 points, or 2.23%, to 5437.04; the tech-heavy Nasdaq index fell 490.82 points, or 2.81%, to 16970.50; and the Philadelphia Semiconductor Index saw a drop of 123.92 points, or 2.95%, to 4072.83.

In individual stocks, NVIDIA fell by 3.69 points, or 3.38%, to a price of $105.33; Tesla plummeted 17.61 points, or 6.03%, to $274.42; and TSMC ADR fell by 0.66 points, or 0.40%, to $163.82.

Notably, the core Personal Consumption Expenditure (PCE) price index for March in the US recorded an annual rate of 2.6%, the lowest since June 2024, matching expectations. The March core PCE monthly rate recorded 0%, the lowest since April 2020, falling short of the expected 0.1%, suggesting that inflation is cooling down.