U.S. Stock Market Plunges as GDP Contraction Triggers Negative Trading

The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all experienced notable drops in response to the U.S. economy contracting in the first quarter, signaling a challenging economic outlook for the market. The decline was particularly pronounced in major tech companies like Tesla (down 4.3%), Nvidia (down 4.4%), and Apple (down 1.04%). The Bloomberg U.S. Tech Giants Index also suffered losses of 2.7%, reflecting the sector’s vulnerability to economic downturns.