Wall Street declines after data

US stock indices declined on Thursday after a spate of weak data, while markets assess the Fed's policy decisions. 

The Federal Reserve announced an interest rate hike of 75 basis points to below 2.5% as expected yesterday.

The Fed is aiming to control inflation in the US, which recently hit over four-decade lows.

Earlier US data showed GDP shrank by 0.9% in the second quarter of 2022, the second such contraction in a row, while analysts expected a growth rate of 0.4%, after shrinking 1.6% in the first quarter.

US unemployment claims rose to 256 thousand in the week ending July 23, the fourth increase in a row above 251K in the previous reading, while analysts expected 253K.

Dow Jones fell 0.3% to 32,095 as of 14:41 GMT, while S&P 500 shed 0.4% to 4,007, as NASDAQ declined 0.9% to 11,926.