U.S. stocks open lower amid data

0 Comment(s)Print E-mail Xinhua, May 15, 2019
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NEW YORK, May 15 (Xinhua) -- U.S. stocks opened lower on Wednesday as investors digested a batch of major economic data while continued to monitor the latest development of global trade.

Shortly after the opening bell, the Dow Jones Industrial Average dropped 161.33 points, or 0.63 percent, to 25,370.72. The S&P 500 declined 17.46 points, or 0.62 percent, to 2,816.95. The Nasdaq Composite Index decreased 43.10 points, or 0.56 percent, to 7,691.40.

The release of weaker-than-expected economic data stoked fears that the worsening global trade prospect would hamper global economic growth.

U.S. retail sales fell 0.2 percent in April, led down by soft sales of autos and building materials, the Commerce Department said Wednesday. The figure is lower than the 0.2 percent-increase estimated by economists polled by Dow Jones.

Analysts said the data suggested consumer spending was sluggish at the beginning of the second quarter.

Meanwhile, the National Association of Home Builders/Wells Fargo Housing Market Index rose to 66 in May. It was the index's highest reading in more than half a year, but still fell short of last May's level of 70. Enditem

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