(Bloomberg) -- U.S. stocks dropped after the economy grew in the first quarter at the slowest pace in four years while inflation rose, interrupting a rally that has lifted shares the most of any month since October 2003.
The Commerce Department said U.S. gross domestic product increased at a 1.3 percent annual rate in January through March, the weakest since the first three months of 2003, after a slump in home construction and a bigger trade deficit reduced growth. Inflation surged to the highest since 1991.
Read more at Bloomberg Stocks News
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment