NEW YORK, Nov 17 (Bernama) -- US stocks declined on Wednesday, as investors digested a slew of economic data, reported Xinhua.
The Dow Jones Industrial Average decreased 39.09 points, or 0.12 per cent, to 33,553.83. The S&P 500 fell 32.94 points, or 0.83 per cent, to 3,958.79. The Nasdaq Composite Index was down 174.75 points, or 1.54 per cent, to 11,183.66.
Nine of the 11 primary S&P 500 sectors ended in red, with energy and consumer discretionary down 2.15 per cent and 1.46 per cent, respectively, leading the laggards. Utilities and consumer staples climbed 0.87 per cent and 0.46 per cent, respectively, the only two gaining groups.
The US Commerce Department reported on Wednesday that US retail sales rose 1.3 per cent in October, topping estimates.
"The combo of better-than-expected employment and better-than-expected consumer strength is a reminder there is still ample work before inflation can be expected to fall back to 2 per cent," Chris Low, chief economist at FHN Financial, said Wednesday in a note.
Elsewhere, the Federal Reserve reported that US industrial production fell 0.1 per cent in October, below Wall Street expectations of a 0.1 per cent gain.
Meanwhile US-listed Chinese companies traded mostly lower on Wednesday with nine of the top 10 stocks by weight in the S&P US Listed China 50 index ending the day on a downbeat note.
Shares of NIO and Li Auto tumbled 8.51 per cent and 6.18 per cent, respectively, leading the laggards in the top 10 stocks.
Shares of Yum China Holdings rose 1.11 per cent, the lone advancer in the top 10 stocks.
The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, dipped 1.75 per cent to 24.11.
As of Tuesday, the S&P US Listed China 50 index, which is designed to track the performance of the 50 largest Chinese companies listed on US exchanges by total market cap, stood at 2,392.32, marking a 27.32-per cent gain for the month-to-date returns and a 19.68-per cent loss for the year-to-date returns.
-- BERNAMA
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