CNBC Business News Update Market Open: Stocks Plunge, US Economic Growth Shrinks In First Quarter, Disappointing US Job Creation In April 4/30/25
Apr 30, 2025
Stocks are taking a nosedive, and economic anxiety is palpable. Recent GDP figures signal a shrinking economy, compounded by disappointing job creation in April. The discussion highlights how political and trade policy changes are influencing major corporations. Could shifting tariff policies be the tipping point? Tune in for expert insights on what these developments mean for your financial future.
AI Snips
Chapters
Transcript
Episode notes
Stocks Plunge Sharply
- The stock market sharply dropped with the Dow down 700 points and the Nasdaq down 450 points this morning.
- Major stocks like Amazon and NVIDIA led significant declines as market sentiment soured.
Shrinking GDP and Job Shortfall
- U.S. GDP fell 0.3% in Q1, the first negative reading in three years, raising recession concerns.
- Private sector job creation in April was only 62,000, about half of economists' expectations.
Consumer Sentiment Plummets
- Consumer sentiment has plummeted sharply, marking the third steepest decline in 50 years.
- Despite lower spending and tariff fears, jobless claims remain low but improvement depends on trade policy changes.