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US GDP growth slows down significantly causing market-wide selloff

The US economy grew by 1.6% in the first quarter of 2024 compared to 2.5% expected by analysts. The latest GDP number comes after the revised 3.4% print of Q4 2023.


US stock indexes extended their declines and government bonds came under pressure after data was released. Bitcoin is down 1.30% in the last hour, Ethereum is also declining by 1.70% and Solana is currently seeing a drop of 4.70%.

Quarter

GDP Growth

Q3 2023

4.9%

Q4 2023

3.4%

Q1 2024

1.6%


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