Markets retreat as GDP shows slowing economy

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Marketplace

News, Business

4.5 • 1.4K Ratings

🗓️ 30 May 2024

⏱️ 1 minutes

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Summary

Markets fell; GDP revision shows slower economy; Boeing meets with FAA on safety plan; Salesforce loses fifth of value.

Transcript

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0:00.0	This is the Marketplace Minute. I'm Megan McCarty Carino.
0:04.3	Markets fell Thursday. The Dow dropped almost 9 tenth percent. The S&P lost 6 tenth percent
0:10.4	and the NASDAQ sank more than 1%.
0:13.4	Treasury yields slipped after revised GDP data showed the economy slowed down from January
0:18.9	to March.
0:20.4	Consumer spending was more sluggish than previously thought, dragging the growth rate down from 1.6 to 1.3% for the quarter.
0:28.0	Executive at Boeing met with federal officials today to present a new safety plan after a door blew out of an Alaska
0:35.1	Airlines flight in January.
0:37.2	The company laid out improvements in training, workflow, and communication systems, but the
0:42.1	FAA has not yet given the airplane
0:44.0	maker the go-ahead to ramp up production of its 737 Maxjet. And shares in
0:49.6	Salesforce plummeted 20% Thursday after the Cloud-based software company reported its
0:55.1	lowest quarter of growth, raising concerns about its potential in the AI booth.
1:00.3	I'm Megan McCarty Karino with the Marketplace Minute.

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