Stocks face more pressure

Tuesday May 23 by Claudia bourneusatoday
U.S. stocks are seen volatile on the open Wednesday, and the technology sector may fall even more. Wall Street analysts are anticipating weakness at least until Thursday, when the next wave of economic data hits the market. The Commerce Department will issue its preliminary report on first-quarter gross domestic product, and the National Association of Realtors will report on existing home sales for April. Both reports could offer some indication of whether the Fed's rate increases are successfully slowing the economy, and analysts said signs of moderate growth could calm the distressed market.





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