Dow sinks 680 points after GDP report shows a slowing economy amid stubborn inflation

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Dow sinks 680 points after GDP report shows a slowing economy amid stubborn inflation

By Nicole Goodkind, CNN New York (CNN) — US stocks sank Thursday morning after the latest GDP report showed that US economic growth slowed to 1.6% in the first quarter of the year, a much weaker pace than expected. The Dow fell by 681 points, or 1.7%; the S&P 500 was down 1.5% and the Nasdaq Composite slid by 1.9%, as investors projected a longer wait for the first rate cut from the Federal Reserve. “This report was the worst of both worlds: eco…