Dow tumbles nearly 400 points as new inflation fears dent hopes of Fed rate cut
The Dow Jones Industrial Average slid 375.12 points, or 1%, to 38,085.12 It had tumbled nearly 700 points in morning trading. The S&P 500 and Nasdaq dropped 0.5% and 0.6%, respectively. Data on Thursday showed that the US economy grew at its slowest pace in nearly two years in the first quarter while inflation accelerated,