S&P 500 inches higher, but US GDP contraction sparks recession fears amid Trump tariff impact
US Stock Market Crash Highlights: The S&P 500 eked out a modest gain on Wednesday (April 30), rising 0.15% to close at 5,569.06, as investors grappled with fresh recession concerns following data showing a contraction in US economic growth. The Dow Jones Industrial Average added 141.74 points, or 0.35%, ending at 40,669.36.
US Stock Market Highlights: The S&P 500 eked out a modest gain on Wednesday (April 30), rising 0.15% to close at 5,569.06, as investors grappled with fresh recession concerns following data showing a contraction in US economic growth. The Dow Jones Industrial Average added 141.74 points, or 0.35%, ending at 40,669.36. Meanwhile, the Nasdaq Composite edged down 0.09% to 17,446.34. Despite the turbulent session, both the S&P 500 and Dow marked their seventh straight day of gains. Earlier in the day, the S&P 500 dropped as much as 2.3% and the Dow tumbled more than 780 points at intraday lows before recovering. The volatility was triggered by the Commerce Department’s report that U.S. gross domestic product shrank at an annualised rate of 0.3% in the first quarter, reversing sharply from a 2.4% expansion in the previous quarter. Market participants attributed some of the weakness to a 41% jump in imports late last year, as companies rushed to front-load purchases ahead of tariffs tied to former President Donald Trump’s trade policies.
