U.S. stocks opened lower Thursday, following news that the U.S. economy sputtered in the first quarter to the lowest growth in two years, as businesses slashed investment by the steepest rate since the Great Recession.
The drop tracked declines in European and Asia shares, after the Bank of Japan rattled investors by offering no additional stimulus measures.
The S&P 500 shed 4 points, or 0.2%, to 2,090, led by a 1.2% drop in materials stocks. The technology and consumer-staples sectors were the only two sectors in positive territory.
The Dow Jones Industrial Average dropped 76 points, or 0.4%, to 17,964, weighed by 1.7% drop in E.I. DuPont de Nemours & Co..
The Nasdaq Composite was flirting with positive territory, last trading up 4 points, or 0.1%, to 4,868.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.