Wall Street slides after new US economic data

Wall Street stocks fell while the US dollar rose sharply in the trading session on September 25 after the US announced stronger-than-expected economic data that could cause the US Federal Reserve (Fed) to postpone interest rate cuts.

Traders at the New York Stock Exchange, USA. Photo: THX/TTXVN

US stock indexes fell for a third straight session after hitting a record on September 22. In New York, the Dow Jones Industrial Average fell 0.4% to close at 45,947.32 points. The S&P 500 Index fell 0.5% to end the session at 6,604.72 points. The Nasdaq Composite Index also fell 0.5% to close at 22,384.70 points.

The US government has just revised economic growth in the second quarter of 2025 from 3.3% to 3.8% due to a higher-than-expected increase in consumption. This is the fastest quarterly growth rate in nearly two years.

InvestingLive currency analyst Adam Button questions whether the U.S. economy is growing much stronger than expected, and says the dollar could rally if the U.S. economic outlook is revised up. The dollar rose on Sept. 25 against the euro, pound and yen.

Patrick O'Hare of Briefing.com said the stock market has not responded positively to the good economic data, which he said has shaken the market's confidence that the Fed will make more rate cuts in the rest of the year.

Analysts are focusing on the Fed's release of the Personal Consumption Expenditures (PCE) index - its inflation gauge - on September 26 and the jobs report next week.

David Morrison, senior market analyst at Trade Nation, said the PCE data could impact investors' expectations about the pace and scale of additional easing from the Fed.

Intel shares jumped nearly 9% after reports the company approached Apple about investing in the struggling chipmaker. Apple rose 1.8%, Amazon fell 0.9%, and Starbucks fell 0.5% as it announced it would cut about 900 jobs and close some underperforming stores as part of a cost-cutting program.

At the end of the trading session on September 25 in the Vietnamese market, the VN-Index increased by 8.63 points, or 0.52%, to 1,666.09 points. The HNX-Index increased by 0.37 points, or 0.13%, to 277.65 points.

Source: https://baotintuc.vn/thi-truong-tien-te/pho-wall-truot-doc-sau-so-lieu-moi-ve-kinh-te-my-20250926071137147.htm