US stocks end lower following weak economic growth
NEW YORK (AP) — Stocks are closing lower as traders react to weak U.S. economic growth.
The economy skidded nearly to a halt in the first three months of the year, the government reported early Wednesday. Harsh weather, plunging exports and cutbacks in oil exploration were to blame.
Garmin and Buffalo Wild Wings were among the stocks that fell after reporting disappointing earnings.
The Dow Jones industrial average lost 74 points, or 0.4 percent, to close at 18,035.
The Standard & Poor’s 500 index fell seven points, or 0.4 percent, to 2,106. The Nasdaq composite fell 31 points, or 0.6 percent, to 5,023.
Markets didn’t react much after Federal Reserve policymakers lowered their assessment of the economy.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.05 percent.