S&P 500 Gains and Losses Today: Miner Newmont Shines With Strong Gold Production [Video]

Major U.S. equities indexes tumbled as data showed a slowdown in economic growth and an uptick in inflation in the first quarter. The combination of sluggish growth and persistent inflation added to uncertainty surrounding if and when the Federal Reserve will decide it’s appropriate to lower interest rates. The S&P 500 fell 0.5% on Thursday, while the Dow and the Nasdaq were down 1% and 0.6%, respectively.

Meta Platforms (META) shares suffered Thursday’s heaviest losses in the S&P 500, plunging 10.6% following the social media giant’s first-quarter 2024 earnings report. Although Meta exceeded quarterly profit and sales forecasts, the Facebook and Instagram parent raised its full-year capital expenditure guidance, citing higher legal costs and increased spending to build out its artificial intelligence (AI) infrastructure.

Shares of Textron (TXT) dropped 9.7% after the aerospace and defense contractor announced a restructuring program that includes the elimination of around 1,500 jobs. Cancellations of U.S. Army projects involving the development of an unmanned aircraft and …