Wall Street closes lower with weak growth

By Ovunc Kutlu

NEW YORK

Wall Street closed lower Friday as the American economy posted weak growth for the first quarter.

The Dow fell 41 points to end the day at 20,940 and the S&P 500 lost four points to 2,384.

The Nasdaq decreased one point to end the day at 6,047.

American economy grew only 0.7 percent in the first quarter of the year, the Department of Commerce announced Friday.

This marked the lowest quarterly growth rate in the last three years.