The US stocks tumbled on Thursday, as they encountered headwinds from the drop in Meta and a climb in treasury yields as new economic figures indicated eased growth, however, stubborn inflation, drove traders to scale back bets on the first rate trim in December.

with investors being negatively impacted by a mix of weakening economic growth and heavyweight IT major Meta Platforms' dismal Q2 guidance.

The Dow Jones ticked down by 1.1%, the S&P 500 dipped 0.60%, and the NASDAQ Composite plunged 0.9%. 

Treasury yields advanced following figures that demonstrated expansion in US economy by 1.6% in Q1 on an annual basis, much cooler than projected, Rate-cut bets were pushed aside in Q1 as a fundamental underlying indicator of inflation unexpectedly rose 3.7%. 
An initial rate reduction by the Fed before December is no longer fully priced in by swaps traders.

The slower growth but robust inflation spiked stagflation worries, but some economists reported that growth wasn't as slow as the report indicated.

META stock dipped 11%, close to the three-month trough, after the parent company Faceboo  predicted slower-than-projected revenue for Q2 owing to spiked investment in artificial intelligence.