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Stocks fall as GDP rises 5.7 pct, raises questions

Stocks fall as GDP rises 5.7 pct, raises questions

U.S. stocks have ended a disappointing January with a loss as investors questioned the economy's ability to sustain a big fourth-quarter growth rate. Downbeat earnings at technology companies also pulled stocks down.
The Dow Jones industrials ended the month with a loss of 3.4 percent.
The Commerce Department said the gross domestic product expanded at an annual rate of 5.7 percent during the fourth quarter. But the report also raised questions about the sustainability of a recovery.
The Dow ended the day down 53, or 0.5 percent, at 10,067. The Standard & Poor's 500 index fell 10.66, or nearly 1 percent, to 1,073, while the Nasdaq composite dorpped 31, or 1.5 percent, to 2,147.
Two stocks fell for every one that rose on the New York Stock Exchange. Volume came to 1.58 billion shares.


Updated : 2021-04-22 01:58 GMT+08:00