Sharp Decline on Wall Street following release of new economic figures

After last night’s news, Meta’s stock lost more than a fifth of its value, causing key stock indexes on Wall Street to open sharply lower on Thursday. The S&P 500 general index was down 1.4 percent, driven by declines in the communications sector. Additionally, the Nasdaq fell by 1.6 percent and the Dow Jones index by 1.7 percent.

Stock futures began to decline on Thursday afternoon following the publication of new economic macro numbers in the United States. The US economy grew slower than anticipated at the beginning of the year, while recent price indices suggest higher-than-expected inflation. As a result, US government bond interest rates started to rise significantly.

Among individual stocks, Meta attracted attention on Wall Street after reporting lower-than-expected sales forecasts and plans to invest heavily in artificial intelligence development work. Meta’s shares were down 11.8 percent at $435.22 after five o’clock.

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