U.S. Stock Market Opens Lower Amid Unexpected GDP Contraction

According to Odaily, the U.S. economy experienced an unexpected contraction in the first quarter, leading to a significant drop in the stock market. The Dow Jones Industrial Average fell by 0.59%, the S&P 500 declined by 1.25%, and the Nasdaq Composite dropped by 2.07%. Major technology stocks faced substantial losses, with Tesla shares decreasing by 4.3%, Nvidia falling by 4.4%, and Apple slipping by 1.04%. The Bloomberg U.S. Tech Giants Index also saw a decline of 2.7%.