Dow tanks 375 points to end its worst month since 2016

The Dow Jones industrial average sank 375 points Wednesday, closing at 25,068, to end its worst month since 2016.

The US economy grew slightly slower than initially reported in the fourth quarter, according to the Commerce Department’s second estimate of gross domestic product, rising just 2.5% compared to the expected 2.6%.

The measure of all goods and services produced in the US rose 2.3% in President Donald Trump’s first full year in office –below the 3% target he had previously laid out.

Crude oil also slid 2.4% to $US61.50, its lowest in a week, while 10-year treasury bond yields lost a few basis points.

Energy stocks were hit hit hard with Chesapeake Energy falling 7.8%. Dow component General Electric also fell 2.7% to close it its lowest levels since July 2010.

Snap, on the otherhand, managed to find some gains amid the sea of red, ending a six-day skid to trade above $US17 for the first time since the company’s blockbuster earnings report on February 6.

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