U.S. Stocks Dip as Federal Spending Cuts Weigh on Key Companies

Federal Reserve holds interest rates steady while economic data highlights resilience despite market fluctuations.

The S&P 500 slipped 0.2%, the Nasdaq Composite fell 0.3%, and the Dow Jones Industrial Average dipped less than 0.1% on Thursday.
Accenture and Gartner stocks fell sharply, down 7.3% and 6.8% respectively, due to revenue concerns linked to federal spending cuts led by Elon Musk's initiatives.
Darden Restaurants shares surged 5.8% after reporting earnings that matched expectations, signaling continued consumer spending on dining out.
Federal Reserve Chair Jerome Powell announced no change to interest rates, citing economic stability but significant uncertainty from trade policies and inflation concerns.
European markets saw declines, with Germany's DAX down 1.24% and France's CAC 40 falling 0.95%, while oil and gold prices posted modest gains.