U.S. stocks closed sharply lower Wednesday after fresh economic data showed retail sales fell in December, with investors worried about slowing growth. The Dow Jones Industrial Average DJIA, -1.81% sank more than 600 points to end 1.9% lower, while the S&P 500 SPX, -1.56% fell 1.6% and the technology-laden Nasdaq Composite COMP, -1.24% dropped 1.
3%, according to preliminary data from FactSet. Sales at retailers in the U.S. slid 1.1% last month, a slightly bigger drop than economists polled by The Wall Street Journal were expecting. In other economic data released Wednesday, the Federal Reserve reported that U.S. industrial production fell 0.7% in December. That was a steeper-than-expected decline and the biggest monthly drop in U.S. industrial production since September 2021.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock Market News Today: Dow Loses Over 600 Points On Inflation, Retail DataThe Dow dropped more than 600 points as new data raised concerns about economic growth. Treasury yields fell sharply. I thought too much growth was the problem last year 🤔 Democrats destroying our economy 😢 dow jones is over inflated balloon
Source: WSJ - 🏆 98. / 63 Read more »
Mayor pulls request to make his job full time, with a 600% pay hikeWayne mayor Chris Vergano asked the council to table an ordinance making him full-time at $140K.
Source: njdotcom - 🏆 282. / 63 Read more »
Wholesale prices fell 0.5% in December, much more than expectedThe producer price index was expected to decrease 0.1% in December, according to Dow Jones estimates. Have you gone grocery shopping lately?…Fake numbers! Holy crap....did the PressSec write this garbage for you? A 2 liter of soda in Lexington, KY, increased in price by 50% from last week. Was $1.99, now costs $2.99. Have seen similar increases in the price of eggs, coffee, meats, etc...
Source: CNBC - 🏆 12. / 72 Read more »
Dow futures tick lower, earnings in focus By Investing.com*U.S. STOCK FUTURES TICK LOWER AHEAD OF MORE EARNINGS AS INVESTORS RETURN FROM HOLIDAY $DIA $SPY $QQQ 🇺🇸 🇺🇸 👀 This is the reason I love $QQQ. Well-diversified so I don’t have to worry about individual fundamentals and churn in my portfolio.
Source: Investingcom - 🏆 450. / 53 Read more »
Dow closes almost 400 points lower and snaps 4-day win streak, pressured by Goldman sharesThe stock market was divided Tuesday as investors struggled to keep building on early 2023 momentum and weighed the latest earnings results. The Dow fell 1.14%. The S&P 500 dipped 0.20%. The Nasdaq rose 0.14%.
Source: CNBC - 🏆 12. / 72 Read more »
Goldman, Travelers drag Dow lower as earnings season picks upThe Dow fell more than 1% as weak earnings from Goldman Sachs dragged the index lower, but a jump in Tesla shares helped the Nasdaq stay positive as the corporate earnings season took center stage $GS $TSLA オーローレンス。
Source: Reuters - 🏆 2. / 97 Read more »