3 main factors pressured the Dow Jones to fall more than 300 points. Investors were shocked by the US GDP-inflation numbers.

The Dow Jones New York Stock Exchange index closed down on Thursday (25 April 2024) after the United States revealed gross domestic product (GDP) figures that expanded lower than expected and inflation figures that rose in the first quarter of 2024. It said the US economy expanded 1.6% in the quarter. lower than analysts’ expectations at 2.4% US economic growth in 1Q24 was affected by a slowdown in consumer spending.

The Ministry of Commerce revealed that the Consumer Price Index (CPI) rebounded 3.4% in the first quarter, higher than the level of 1.8% in the last quarter of last year. This makes investors worried about rising inflation. which will be a factor that makes the Fed Holding interest rates high for longer than expected

In addition, the market is also under pressure from selling stocks with high registered capital. After Meta Platform Company revealed disappointing financial results.

-The Dow Jones Industrial Average closed at 38,085.80 points, down 375.12 points or -0.98%.

-The S&P500 index closed at 5,048.42 points, down 23.21 points or -0.46%.

-The Nasdaq index closed at 15,611.76 points, down 100.99 points or -0.64%.

European stock market Closed negative on Thursday (25 April 2024), affected by the disclosure of sluggish operating results of European listed companies. And the trading atmosphere was also affected by the release of weaker-than-expected economic data from the United States.

Weak economic data Pulling the dollar down And this factor causes the price of gold. Closed positive on Thursday (25 April 2024)

-Comex gold price June 2024 delivery increased $4.10 to close at $2,342.50 per ounce.

However, the market is keeping an eye on the results of the Bank of Japan (BOJ) meeting to determine how to proceed with monetary policy. After the yen depreciated to 155 yen/dollar, the lowest depreciation in 34 years, the market was quite cautious about intervening in the yen’s value.

Investors are waiting to follow the March 2024 Personal Consumption Expenditures (PCE) price index report of the United States tonight (April 26, 2024) to assess the direction of inflation and the central bank’s interest rate cut. United States (Fed) during the 3rd-4th quarter of 2024.

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