1/5/2025, 9:12:02 am

Wall Street stumble dents April rebound as weak GDP stirs recession fears

U.S. stocks fell Wednesday after Q1 GDP showed a 0.3% contraction, contrasting with 2.4% growth in Q4. The Dow dropped 0.6%, S&P 500 1%, and Nasdaq 1.4%. Consumer spending rose 0.7% in March, but concerns about a recession resurfaced. The market rebound from April’s tariff-driven losses was halted. Companies like First Solar and GE Healthcare cut outlooks due to tariffs.