The At the close of trade, the Dow Jones Industrial Average index declined 613.89 points, or 1.81%, to 33,296.96. The S&P500 index was down 62.11 points, or 1.56%, to 3,928.86. The tech-heavy Nasdaq Composite Index decreased by 138.10 points, or 1.24%, to 10,957.01.
All 11 sectors ended lower along with the S&P500 Index. Consumer staples was worst performing sector, erasing 2.65%, followed by utilities (down 2.41%), financials (down 1.84%), industrials (down 1.84%), and energy (down 1.77%) sectors.
ECONOMIC NEWS: The Commerce Department said retail sales tumbled by 1.1% in December after slumping by a revised 1% in November.
A separate report released by the Federal Reserve showing industrial production in the U.S. decreased by 0.7% in December after falling by a revised 0.6% in November.
Meanwhile, a report from the Labor Department showed U.S. producer price index for final demand declined by 0.5% in December after inching up by a revised 0.2% in November. The report also showed the annual rate of producer price growth slowed to 6.2% in December from 7.3% in November.
Among Indian ADR, HDFC Bank was up 2.46% at $68.65, ICICI Bank added 0.62% to $21.23, INFOSYS was up 0.43% at $18.75, Dr Reddy's labs added 0.4% to $54.01, and Wipro added 1.6% to $4.97. WNS Holdings declined 0.7% to $83.41, Azure Power Global fell 1.8% to $4.27, and Tata Motors sank 1.57% at $24.40.
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