MARKET SNAPSHOT: U.S. Stocks Drop At The Open On Weak U.S. GDP, BOJ Surprise

By Ellie Ismailidou and Barbara Kollmeyer, MarketWatch

Dollar tumbles as yen soars; Japanese stocks see worst day since early February

U.S. stocks opened lower Thursday, following news that the U.S. economy sputtered in the first quarter to the lowest growth in two years, as businesses slashed investment by the steepest rate since the Great Recession.

The drop tracked declines in European and Asia shares, after the Bank of Japan rattled investors by offering no additional stimulus measures.

See also:5 charts that show the Bank of Japan market carnage (http://www.marketwatch.com/story/5-charts-that-show-how-the-bank-of-japan-rocked-markets-2016-04-28)

The S&P 500 shed 4 points, or 0.2%, to 2,090, led by a 1.2% drop in materials stocks. The technology and consumer-staples sectors were the only two sectors in positive territory.

The Dow Jones Industrial Average dropped 76 points, or 0.4%, to 17,964, weighed by 1.7% drop in E.I. DuPont de Nemours & Co.(DD).

The Nasdaq Composite was flirting with positive territory, last trading up 4 points, or 0.1%, to 4,868.

(END) Dow Jones Newswires

April 28, 2016 09:56 ET (13:56 GMT)

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