Stock market slips after weaker than expected growth in US
The stock market is opening slightly lower after the U.S. economy slowed more sharply than expected in the final three months of the year.
The Dow Jones industrial average slipped 15 points, or 0.1 percent, to 18,199 in early trading Friday. The Standard & Poor’s 500 index was flat at 2,110 and the Nasdaq slipped less than a point to 4,987.
The Commerce Department said the U.S. economy grew at an annual rate of 2.2 percent in the October-December quarter, weaker than the 2.6 percent first estimated last month. It marked a major slowdown from the third quarter, which had been the strongest growth in 11 years.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.02 percent.