Stocks fall as US growth slows, BoJ holds monetary policy

Stocks slumped on Thursday.

The S&P 500 fell 0.9 percent after the US Commerce Department reported that the economy grew at an annualised 0.5 percent rate in the first quarter, the slowest rate in two years, while the Nikkei 225 plunged 3.6 percent after the Bank of Japan unexpectedly left monetary policy unchanged.

However, US crude oil rose 1.5 percent, its third consecutive day of gains.

Kate Warne, investment strategist at brokerage Edward Jones, said that the decline in stocks was “a reminder to investors that not everything’s going to go right”.