Dow drops more than 600 points as U.S. stocks end lower amid economic slowdown fears

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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.

This article was originally published by Marketwatch.com. Read the original article here.

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