Economic Beat: Major U.S. equity indices dropped last week
How will current market developments affect you? The thought leaders at Fifth Third Bank can help make sense of it all. Listen to the Economic Beat as they discuss what happened last week and what they expect will be the focus of this week.
Economic Beat: May 2, 2022
Major U.S. equity indices dropped last week. The S&P 500 Index fell 3.3% in total return for the week, while the Nasdaq Composite dropped 3.9% and the Dow Jones Industrial Average fell 2.5%. On the economic calendar, the first reading on first quarter U.S. economic growth unexpectedly showed a contraction. U.S. gross domestic product (GDP) shrank for the first time since 2020, falling at a 1.4% annualized rate in the first three months of the year, following a 6.9% annualized increase in the fourth quarter of 2021. Listen to this week’s full Economic Beat update or read the transcript below.