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NEW YORK CITY: US stocks Thursday tumbled despite a successful launch of trading in Twitter stock and report on US economic growth that bested expectations by a wide margin.
At the closing bell, the Dow Jones Industrial Average lost 147.77 (0.94 percent) to 15,599.11.
The broad-based S&P 500 gave up 23.06 (1.30 percent) at 1,747.43, while the tech-rich Nasdaq Composite Index sank 74.61 (1.90 percent) to 3,857.33.
The retreat came as Twitter shares vaulted more than 72 percent above the $26 IPO price.
The US GDP report showed the US economy grew at an annual rate of 2.8 percent in the third quarter, well above the 1.9 percent projected by analysts.
Analysts said the strong headline number masked weakness in consumer spending and other areas.
Nevertheless, "the market is looking at it as a strong number," said David Levy, portfolio manager at Kenjol Capital Management.
The market is wondering if the GDP report "pushes up the timetable" for the Federal Reserve to scale back its bond-buying program, Levy said.
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