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Nasdaq lost 0.5%, marking a third consecutive decline for all three benchmarks

NASDAQ was down on Friday morning after testing the high level of 24551 in the last trading session as Nasdaq lost 0.5%, marking a third consecutive decline for all three benchmarks. Equities retreated as stronger-than-expected US data dampened hopes for deeper Fed rate cuts. Weekly jobless claims fell to 218K, underscoring labor market resilience, while second-quarter GDP growth was revised sharply higher to 3.8% annualized on solid consumer spending and business investment.