US closes lower on slow economic growth

NEW YORK (AA) – Wall Street closed lower Thursday as U.S. GDP slowed during the first quarter. 

The Dow Jones fell 211 points to close at 17,830 points while the S&P 500 was down 19 points to 2,075. The Nasdaq fell 57 points to end the day at 4,805 points.

It was the Dow’s worst day in the past 11 weeks. 

The country’s gross domestic product grew by just 0.5 percent in the first quarter — its slowest pace in two years. Market expectation was a 0.6 percent rise. The U.S. economy grew 1.4 percent in last quarter of 2015.

pple shares fell 3 percent to mark its sixth consecutive day of decline — the company’s longest losing streak since February 2013.

Meanwhile, shares of Facebook soared 7 percent during the day after posting on Wednesday high income and revenue for first quarter.

Crude prices reached new high levels for the year.

The American benchmark reached $46.12 per barrel while Brent crude climbed to $47.82.