Dow Jones Industrial Average falls 225 points
Record GDP plunge
Data from the U.S. government showed gross domestic product plunged by a record 32.9% in the second quarter. The number was not as bad as feared, however, as economists surveyed by Dow Jones had expected a 34.7% decline. Meanwhile, U.S. weekly jobless claims came in at 1.434 million, roughly in line with estimates. However, continuing claims, or those who have been collecting for at least two weeks, totaled 17.018 million, up from about 16 million last week.
Tech rises, banks fall
What happens next?
Personal income and consumer sentiment numbers are set for release Friday. Caterpillar and Exxon Mobil are among the companies scheduled to report earnings.
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