JaysonPhotography/iStock/Thinkstock(NEW YORK) — Wall Street sank on Thursday as the government released a slowdown in economic growth over the summer.
The Dow Jones Industrial Average closed at 17755.80, down 23.72 from its open.
The Nasdaq dropped 21.42 to 5074.27, while the S&P 500 ended the session down 0.94 to a finish of 2089.41.
The government report showed growth of just 1.5 percent over the summer. Cutbacks in business stockpiles and consumer spending contributed to the slowdown.
The Labor Department released unemployment numbers Thursday, saying that about 1,000 more people filed for unemployment last week than the week before. Still, the overall number is among the lowest in 40 years.
Walmart is planning for the holiday season, announcing season-long price rollbacks. The company also says it expects more online sales than ever, including a large percentage on its mobile app.
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