US Q3 GDP grows 3.4%, fastest in a year

The U.S. economy grew at a 3.4% annual rate in the third quarter, the fastest pace in a year, as business investment surged and consumers kept spending. The data comes as Alphabet's record stock drop dragged the Nasdaq down 1.4%, while DoorDash agreed to buy Instacart for $17 billion and Intel plunged 22% after hours on a weak outlook.