Dow Jones Slides 0.3%; US GDP Rises Beyond Initial Estimate
ICM Brokers | Aug 29, 2014 02:42AM ET
Dow Jones
The Dow Jones Industrial Average slid 42.44 points, or 0.3 percent, to 17,079.57. The U.S. economy expanded more than previously forecast in the second quarter, propelled by the biggest gain in business investment in more than two years. Gross domestic product rose at a 4.2 percent annualized rate, up from an initial estimate of 4 percent and following a first-quarter contraction, Commerce Department figures showed. Mounting tensions in Ukraine overshadowed robust U.S. economic indicators and sent Wall Street stock indices falling on Thursday.
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