Shares dip, U.S. Treasury yields fall after U.S. economy shrinks

Published by
Reuters UK

By Sinéad Carew NEW YORK (Reuters) – Wall Street stock trading was choppy on Thursday, while 10-year Treasury yields fell and the dollar rose, as investors digested data showing the U.S. economy contracted for a second straight quarter, a day after the Federal Reserve hiked interest rates. U.S. second-quarter gross domestic product GDP fell at a 0.9% annualized rate, the Commerce Department said in its advance estimate of GDP. This compared with expectations for a 0.5% rate from economists polled by Reuters and follows a first-quarter contraction of 1.6%. This followed a Fed commitment on Wedn…

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