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The US stock market crashed after the release of statistics By Investing.com

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Investing.com – U.S. stocks fell in early trading on Thursday, September 29. As of 17:11 Moscow time, it lost 2.39% and dropped to 3630 points. The index fell by 1.89% to 29.123 points. The index fell 3.15% to 10,703 points.

The decrease in indices was observed against the background of the release of statistics. The Bureau of Economic Analysis of the US Department of Commerce confirmed that the country’s GDP declined by 0.6% in the second quarter of 2022. The agency published the third and final assessment of the indicator. The first estimate assumed a contraction of the US economy by 0.9%, the second – a fall of 0.6%. In the first quarter of 2022, US GDP fell by 1.6%, demonstrating a fall for the first time since the beginning of 2020.

US jobless claims unexpectedly fell to a five-month low of 193,000. Economists polled by Reuters had forecast a figure of 215,000 claims. Data for the previous week were revised down.

US stocks fell as new data suggests that the Fed may continue to tighten monetary policy further, writes Bloomberg. Bidders are selling papers due to growing fears of a downturn in the economy.

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Text prepared by Timur Aliev

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