Vietnam Insight

Stocks in the US closed sharply lower on Thursday, after the GDP release showed the US economy slowed down sharply and pointed to persistent inflation. The S&P 500 lost roughly 0.5%, the Dow Jones tumbled 375 points after dropping 540 points earlier in the session, and the Nasdaq fell 0.6%. The US economy expanded at an annualized rate of 1.6% in Q1, below forecasts of 2.5%. However, core PCE prices increased by 3.7%, surpassing expectations.

The VNINDEX closed at 1,204.97, down 0.61 points or 0.05%, with liquidity decreasing by about 20% compared to the previous trading session. The market had 166 gainers and 293 losers. The stocks that contributed to the market's decline included TCB, BID, and MBB. On the other hand, the stocks that contributed to the market's gain included FPT, VCB, and MWG. Foreigners continued to net sell around VND 470 billion.

• World stocks: US economic growth slows down
• Vietnamese stocks: Blue-chip stocks reluctantly pull up the market
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