Stocks close mixed on news of GDP decline, recession fears grow

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Stocks close mixed on news of GDP decline, recession fears grow

^{Published on 2025-04-30 16:46:33 - Fortune}

Major earnings later Wednesday will be closely watched by Wall Street: Qualcomm, Meta, and Microsoft all report after the bell.

Stocks closed mixed as investors reacted to news of a decline in U.S. GDP, raising concerns about a potential recession. The Commerce Department reported a 1.4% annualized drop in GDP for the first quarter, marking the second consecutive quarter of negative growth, which is a common definition of a recession. The Dow Jones Industrial Average fell 336 points, or 1.03%, while the S&P 500 and Nasdaq Composite saw gains of 0.34% and 1.75%, respectively. Sectors such as technology and consumer discretionary performed well, buoyed by strong earnings from companies like Microsoft and Amazon, but financials and industrials lagged. Investors are now looking to the Federal Reserve's next moves on interest rates and further economic data to gauge the health of the economy.

Read the Full Fortune Article at:
[ https://fortune.com/article/stocks-close-mixed-on-news-of-gdp-decline-recession-fears-grow/ ]

N@N

Stocks close mixed on news of GDP decline, recession fears grow