U.S. stock indexes slumped today after the U.S. Commerce Department said the gross domestic product tumbled in the fourth quarter, UPI reported. The Commerce Department said the GDP fell 6.2 percent, the largest drop since the first quarter of 1982 In afternoon trading, the Dow Jones industrial average shed 60.77 points, or 0.85 percent, to 7,121.31. The Standard & Poor's 500 lost 1.41 percent, 10.60 points, to 742.23. The Nasdaq composite index lost 4.20 points, 0.3 percent, to 1,387.27. The benchmark 10-year U.S. Treasury bond fell 5/32 to yield 3.019 percent. The euro fell to $1.2695, compared to Thursday's $1.2739. Against the Japanese yen, the dollar fell to 97.66 yen, compared to Thursday's 98.35 yen. In Tokyo, the Nikkei average gained 110.49 points to 7,568.42, up 1.48 percent. In London, the FTSE 100 index lost 85.55 points, 2.18 percent, to 3,830.09.
