At the close of trade, the Dow Jones Industrial Average index declined 292.06 points, or 0.84%, to 34,577.57. The S&P 500 index dropped 25.68 points, or 0.57%, to 4,443.05. The tech-heavy Nasdaq Composite Index was down 67.82 points, or 0.45%, to 15,037.76.
All 11 S&P500 sectors declined, with energy (down 1.55%) sector was worst performer, followed by financials (down 1.41%), industrials (down 1.23%), materials (down 1.17%), and communication services (down 0.88%) issues.
Total volume turnover on U.S. exchanges was 8.52 billion shares, down from previous session volume of 8.93 billion shares. In the NYSE exchange, 1022 issues advanced, 2288 issues declined, and 155 issues closed unchanged. In the NASDAQ, 1320 issues advanced, 3173 issues declined, and 188 issues unchanged.
ECONOMIC NEWS: The Labor Department latest report showed that consumer price index rose by 0.3% in August after climbing by 0.5% in July. Excluding food and energy prices, core consumer prices inched up by just 0.1% in August after rising by 0.3% in July. The report also showed a slowdown in the annual rate of consumer price growth, which dipped to 5.3% in August from 5.4% in July. The annual rate of core consumer price growth also slowed to 4% in August from 4.3% in the previous month.
Among Indian ADR, Dr Reddys Labs fell 0.5% to $66.87, WNS Holdings fell 0.07% to $81.45, Vedanta fell 1.55% to $16.47, HDFC Bank fell 1.48% to $74.09, and ICICI Bank fell 0.62% to $19.19. Tata Motors added 0.54% to $20.55, Wipro added 0.32% to $9.55, and INFOSYS added 0.22% to $23.01.
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