US Economy Contracts 0.3% for First Time in 3 Years

The U.S. economy shrank for the first time in three years during the first quarter of 2025, according to new data reported on Wednesday. Between Jan. and March, the Bureau of Economic Analysis estimated gross domestic product contacted an an annualized rate of 0.3%. All three major stock indexes - the Nasdaq, Dow Jones, and S&P 500 - took a hit soon after the report came out, with each down more than 1% an hour into trading on Wednesday. President Trump, soon after the report, posted on Truth Social that "This is Biden's Stock Market, not Trump's." "I didn't take over until . . .