Stock market today: US stocks tumble after Metas reality check, soft GDP \nprint

Stocks fell on Thursday after a sharply lower-than-expected reading on US GDP for the first quarter ratcheted up questions about the health of the US economy.\n\nThe Nasdaq Composite (^IXIC) fell about 0.6%. The S&P 500 (^GSPC) lost around 0.5%, while the Dow Jones Industrial Average (^DJI) slipped about 1%, or nearly 400 points. The indexes did recover from steeper losses earlier in the session.\n\nUS GDP growth came in at a 1.6% annualized pace in the first quarter, a government report said, falling well short of expectations of 2.5%. Meanwhile, an underlying measure of inflation grew by

3.7% in the first quarter, the report showed, above estimates and significantly higher than a 2% gain in the prior quarter. The readings came amid ongoing debate about the path of the Federal Reserve\\'s interest rate campaign.\n\nTreasury yields rose after the print, with the benchmark 10-year yield (^TNX) surging to its highest levels of the year before hovering around 4.7%.\n\nMeanwhile, Meta (META) shares sank more than 10% as the market balked at rising costs at the Facebook and Instagram owner, which plans to spend up to $10 billion on AI infrastructure investments. Results from other Big Tech companies after the bell on Thursday appeared to calm any concern that Meta\\'s disappointment will be a theme throughout the sector.\n\nShares of Alphabet (GOOG, GOOGL) soared more than 10% in extended trade as the company\\'s results topped Wall Street\\'s expectations. The search giant also announced its first-ever quarterly cash dividend and expanded its stock repurchase program by an additional $70 billion. Meanwhile, Microsoft (MSFT) shares rose as much as 5% after the company topped Wall Street\\'s estimates for both revenue and earnings per share.