US stocks end lower on GDP revisions

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Dow Jones Industrial Average

Last Updated at 16 Feb 2018, 21:00 GMT *Chart shows local time Dow Jones intraday chart
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(Close): US markets closed lower on Friday after GDP was revised down to an annualised 2.2% for the last three months of 2014.

However, all three indexes were up overall for February, with the S&P 500 and Dow Jones hitting fresh highs.

The Dow Jones shed 81.72 points to 18,132.70.

The S&P 500 index dipped 6.24 points to 2,104.50, while the tech-focused Nasdaq index fell 24.36 points to 4,963.53.

The downward GDP revision was due to a slower rise in business inventory investment than previously estimated.

American Express was the biggest faller on the Dow, dropping nearly 2% after it announced late on Thursday that it was increasing the annual fee on some of its most popular charge cards.

Away from the Dow, department store JC Penney lost 6.8% after it reported a surprise quarterly loss on Thursday.