Stock market today: Wall Street tumbles after dispiriting data on the economy, as Meta sinks

NEW YORK (AP) — U.S. stocks are tumbling Thursday after a dispiriting cocktail of data suggested both that the economy’s growth is flagging and that inflation remains higher than hoped. A sharp drop for Meta Platforms, one of Wall Street’s most influential stocks, also dragged the market...

US growth slowed sharply last quarter to 1.6% pace, reflecting an economy pressured by high rates

WASHINGTON (AP) — The nation’s economy slowed sharply last quarter to a 1.6% annual pace in the face of high interest rates, but consumers — the main driver of economic growth — kept spending at a solid pace. Thursday’s report from the Commerce Department said the gross...

US growth slowed sharply last quarter to 1.6% rate, reflecting an economy pressured by high rates

IMF's Georgieva says there's 'plenty to worry about' despite recovery for many economies

WASHINGTON (AP) — The head of the International Monetary Fund said Thursday that the world economy has proven surprisingly resilient in the face of higher interest rates and the shock of war in Ukraine and Gaza, but "there is plenty to worry about,'' including stubborn inflation and rising levels...

'There is no time to waste': EU leaders want to boost competitiveness to close gap with US and China

BRUSSELS (AP) — European Union leaders on Thursday debated a new “European Competitiveness Deal” aimed at helping the 27-nation bloc close the economic production gap with Chinese and American rivals amid fears the region's industries will otherwise be left behind for good. In...

IMF: Outlook for world economy is brighter, though still modest by historical standards

WASHINGTON (AP) — The International Monetary Fund has upgraded its outlook for the global economy this year, saying the world appears headed for a “soft landing” — reining in inflation without much economic pain and producing steady if modest growth. The IMF now envisions...

China's economy grew 5.3% in first quarter, beating expectations, though weak spots remain

HONG KONG (AP) — China’s economy grew faster than expected in the first quarter of the year with help from policies and stronger demand, though signs of weakness in the troubled housing market persisted. The world’s second-largest economy expanded at a 5.3% annual pace in...

China's economy grew at 5.3% in the first quarter, beating estimates with help from policies and better demand

US consumer sentiment falls slightly as outlook for inflation worsens

WASHINGTON (AP) — Consumer sentiment about the U.S. economy has ticked down but remains near a recent high, with Americans' outlook largely unchanged this year. The University of Michigan’s consumer sentiment index, released Friday in a preliminary version, slipped to 77.9 this...

China's exports tumble 7.5% in March and imports also fall as demand slows

HONG KONG (AP) — China’s exports contracted in March after growing in the first two months of the year, underscoring the uneven nature of the country's recovery from the pandemic. Customs data released Friday show exports declined 7.5% in March from a year earlier, while imports...